Layoffs and other workforce reductions are continuing in 2025, following two years of significant job cuts across tech, media, finance, manufacturing, and retail.
While companies' reasons for slimming their staff vary, the cost-cutting measures come amid the backdrop of technological change. Some 41% of companies worldwide are expected to reduce their workforces over the next five years due to the rise of artificial intelligence, according to a recent World Economic Forum report.
Companies like Dropbox, Google, and IBM have previously announced job cuts related to AI. Meanwhile, tech jobs in big data, fintech, and AI are expected to double by 2030, according to the WEF.
Here are the companies with job cuts planned or already underway in 2025 so far.
BlackRock is reportedly cutting 1% of its workforceBlackRock is planning layoffs, according to a recent report.
Eric Thayer/Reuters
BlackRock told employees it plans to cut about 200 people of its 21,000-strong workforce, according to Bloomberg.
The reductions are more than offset by some 3,750 workers who were added last year and another 2,000 expected to be added in 2025.
BlackRock President Rob Kapito and Chief Operating Officer Rob Goldstein said the cuts will help realign the firm's resources with its strategy, Bloomberg reported.
Bridgewater is cutting approximately 90 staffBridgewater's layoffs will return its head count to where it was in 2023, a person familiar with the matter told BI.
The layoffs at the world's largest hedge fund bring its head count back to where it was in 2023, the person said.
Founder Ray Dalio said in a 2019 interview that about 30% of new employees leave the firm within 18 months.
The Washington Post is cutting 4% of its non-newsroom workforceThe Jeff Bezos-owned Washington Post is reportedly conducting layoffs in January.
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The Washington Post is eliminating less than 100 employees in an effort to cut costs, Reuters reported Tuesday.
A spokesperson told the wire service that the changes would occur across multiple areas of the business and indicated that the cuts would not affect the newsroom.
"The Washington Post is continuing its transformation to meet the needs of the industry, build a more sustainable future and reach audiences where they are," the spokesperson said, according to Reuters.
Microsoft is planning an unspecified number of cutsMicrosoft confirmed to BI that job cuts were planned.
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Microsoft is planning job cuts soon, and the company is taking a harder look at underperforming employees as part of the reductions, according to two people familiar with the plans.
A Microsoft spokesperson confirmed cuts but declined to share details on the number of employees being let go.
"At Microsoft we focus on high performance talent," the spokesperson said. "We are always working on helping people learn and grow. When people are not performing, we take the appropriate action."
Ally will cut less than 5% of workers
Ally Bank/Facebook
Digital financial company Ally is laying off roughly 500 of its 11,000 employees, a spokesperson confirmed to BI. The impacted employees were notified on Tuesday.
"As we continue to right-size our company, we made the difficult decision to selectively reduce our workforce in some areas, while continuing to hire in our other areas of our business," the spokesperson said.
The spokesperson also said the company is offering severance, out-placement support, and the opportunity to apply for openings at Ally.
Ally made a similar level of cuts in October 2023, the Charlotte Observer reported.
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