Companies cut jobs as investments shift toward AI
SPY•Companies across technology, finance and other industries have announced AI-linked layoffs, including 20,000 at HSBC, 16,000 at Amazon and more than 7,000 at Standard Chartered. The list also includes planned cuts of about 5,000 jobs at Barclays and 4,800 at Microsoft.
1. Layoffs across industries
Companies from Microsoft to Barclays have announced job cuts linked to AI adoption and operational changes. HSBC plans to cut 20,000 jobs, about 10% of its workforce; Amazon announced 16,000 corporate job cuts, while Standard Chartered plans more than 7,000 cuts over four years.
2. More planned reductions
The list includes about 5,000 planned job cuts at Barclays, affecting support functions, and 4,800 at Microsoft, or 2.1% of its workforce. Other entries include 4,500 jobs at Dow and more than 4,000 at Block.
