Companies cutting jobs as investments shift toward AI
Oct 12 (Reuters) - Companies spanning tech giant Microsoft MSFT.O to grocer Kroger KR.N have announced layoffs this year, deepening concerns that AI adoption will upend established industries, with job losses emerging in sectors most exposed to automation.
Below is a table of AI-linked global layoffs announced since October 2025. Entries with no specified number are placed at the bottom.
COMPANY | MONTH ANNOUNCED | JOB CUTS | NOTES |
HSBC Holdings HSBA.L | March | 20,000, or about 10% of workforce | Weighs deep job cuts as AI overhaul unfolds |
Amazon AMZN.O | January | 16,000 | Corporate job cuts; AI‑ and efficiency‑driven overhaul |
Standard Chartered STAN.L | May | >7,000 | Cuts over 4 years; AI-driven operational streamlining, profitability optimisation |
HP Inc HPQ.N | November | 4,000-6,000 | Global cuts by end-2028; AI and operational streamlining |
British American Tobacco (BAT) BATS.L | June | 5,500 jobs, shift 3,500 roles to third parties | Plans to cut about 20% of its workforce over AI-driven overhaul to lower costs, lift profits |
Mizuho 8411.T | February | Up to 5,000 | Cuts over 10 years; long-term AI‑driven streamlining plan |
Microsoft MSFT.O | July | 4,800, or 2.1% of workforce | Impact on commercial, Xbox businesses |
Dow DOW.N | January | 4,500 | 13% of workforce; automation and AI streamlining |
Block XYZ.N | February | >4,000 | Nearly half its workforce; AI‑focused restructuring |
Cisco CSCO.O | May | <4,000 | Less than 5% of its workforce; expects pre-tax charges of up to $1 billion |
Intuit INTU.O | May | ~3,000, or about 17% of workforce | Operational streamlining, increased focus on AI efforts |
SEB SEBF.PA | February | Up to 2,100 | Cuts by end-2027; restructuring to leverage AI |
Wisetech WTC.AX | February | 2,000 | One-third of global workforce; AI integration |
Allianz ALVG.DE | November | Up to 1,800 | Travel insurance division; AI replacing manual work |
Atlassian TEAM.O | March | 1,600, or around 10% of workforce | Push into AI and enterprise sales |
Proximus PROX.BR | February | 1,200 | Cuts by 2030; AI efficiency measures |
Cloudflare NET.N | May | >1,100 | Cuts due to AI adoption |
Meta META.O, Reality Labs | January | >1,000 | Pivot from Metaverse to AI devices |
Snap SNAP.N | April | ~1,000 | Cuts to ramp up AI adoption; streamline operations |
Autodesk ADSK.O | January | ~1,000 | 7% of workforce; shift towards cloud and AI |
Nike NKE.N | January | 775 | Profit push and automation |
Telstra TLS.AX | February | 650 | AI‑driven restructuring with Infosys INFY.NS |
Meta, Superintelligence Labs | October | ~600 | Downsizing in AI division |
Fair Isaac FICO.N (FICO) | October | 15% of workforce, or ~570 job roles | Simplifies operating structure, AI workflows in product development |
Freshworks FRSH.O | May | ~500 | Cuts due to work automation and AI adoption |
Danske Bank DANSKE.CO | February | 420 | Cuts due to automation and efficiencies |
DNB DNB.OL | October | ~400 | Reduction due to increased AI investments |
Meta | March | Up to 20% of workforce | Workforce could shrink by 20% amid AI focus; to invest $600 billion for data centres by 2028 |
Pinterest PINS.N | January | Up to 15% of workforce | Redirecting resources toward AI strategy |
Agora AGOP.WA | December | Up to 166 | Nearly 7% of workforce; digital restructuring |
MercadoLibre | January | 119 | AI‑expansion move |
British American Tobacco BATS.L | February | Not specified | AI‑driven productivity programme |
Amazon AMZN.O | July | Not specified | Job cuts in AGI group |
Kroger KR.N | October | ~3,000 | Corporate job cuts; AI‑ and efficiency‑driven overhaul |