As we reach the third month of 2025, many major companies, particularly in the tech sector, continue to implement significant workforce reductions. According to data from layoffs.fyi, 92 tech companies have already cut at least 24,401 jobs this year.

These layoffs are occurring at an alarming pace across multiple industries, affecting thousands of workers worldwide. The driving factors behind these job cuts include cost-cutting measures, restructuring efforts, and adjustments to lower demand. Below is a compilation of some of the key companies that have announced layoffs so far in 2025.

March 28, 2025: Sky to cut 2,000 jobs at customer service sites

Sky said it intends to cut 2,000 jobs at its customer service centres and close three sites in the UK, affecting 7% of its total workforce. The media and telecoms group, which was bought by the US media company Comcast for £30 Bn in 2018, said the planned closures would help make it “future-ready” as it shifts from dealing with customers over the phone to digital communications.

March 27, 2025: HSBC lays off manager-level investment bankers

HSBC dismissed several investment bankers on the day when they were supposed to know their bonus figures—without awarding bonuses to many of them. According to Financial Times, the layoffs affected employees at vice-president level and above, marking a shift in the bank’s traditionally more people-centric approach. The decision is seen as part of a broader cost-cutting strategy under the bank’s new CEO who took charge in January 2024.

March 26, 2025: Dell cuts 10% of its workforce amid cost pressures

Dell Technologies reduced its workforce by 10% in fiscal 2025, cutting headcount to 108,000 from 120,000 amid cost-cutting measures, following a 5% reduction in fiscal 2024. The company cited cost-cutting efforts as the primary reason for the workforce reduction. Dell’s workforce had already decreased by around 5% last year.

March 26, 2025: Block to lay off about 1,000 employees  

Fintech giant Block is set for a significant round of layoffs, cutting 931 employees—about 8% of its workforce. The news was confirmed in an internal email to Block employees. The latest layoffs come as part of the company’s broader organisational restructuring, but the company has clarified that the decision is not financially motivated, nor is it an effort to replace employees with AI.

March 24, 2025: Nestlé announces job cuts due to overcapacity

Nestlé has announced a major downsizing of its operations in Germany, citing "overcapacity" and increasing "price sensitivity" among consumers as key factors behind the decision. The restructuring will see the closure of its Neuss plant by mid-2026 and the sale of its Conow facility in early 2026, impacting about 225 employees.

March 20, 2025: Siemens to lay off 5,600 globally

German engineering firm Siemens would lay off 5,600 employees from its global workforce by 2027. The layoffs will affect 8% of the company’s 68,000-strong workforce in its digital industries business. Its overall headcount globally stands at 312,000 and this is the German firm’s biggest round of layoffs since 2017. 

March 20, 2025: IBM cuts thousands of jobs 

IBM would lay off thousands of employees across multiple locations in the US, with its Cloud Classic division experiencing some of the most significant job cuts. While the exact number of affected employees remains undisclosed, insiders suggest the layoffs could impact around 9,000 employees. IBM has been implementing job cuts across several business units, including consulting, CSR, cloud infrastructure, sales, and internal IT teams.  

March 19, 2025: Morgan Stanley to reduce workforce by 2,000

Morgan Stanley would lay off around 2,000 employees later this month. The job cuts, accounting for about 2% to 3% of the company's global workforce, are part of an effort to improve operational efficiency. The layoffs, which exclude financial advisers, come as the bank looks to optimise its workforce amid evolving business needs. As of 2024, Morgan Stanley had over 80,000 employees worldwide.

March 17, 2025: Audi to cut 7,500 jobs

Audi would cut up to 7,500 jobs in Germany by 2029 in departments like administration and development, the premium carmaker said. The planned measures should save the carmaker’s 1 Bn Euros ($1.1 Bn) per year in the medium term, it said, adding it was investing a total of 8 Bn Euros in its German sites in the coming four years.

March 13, 2025: Chewy sacks over 650 employees 

Online pet supply retailer Chewy would lay off more than 650 jobs at its Dallas location. Chewy plans to continue operating online, though it “will remain open in a substantially reduced capacity”. The company that opened its 663,000-square-foot fulfillment center in 2017 has other fulfillment centers across the country.  

March 13, 2025: Puma cut jobs amid falling sales and shares

Puma has announced plans to cut 500 jobs globally and close unprofitable stores as part of a cost-cutting initiative, following a sharp 23% decline in its share price. The German sportswear giant also warned of uncertain consumer demand in the US, adding to concerns over its financial outlook. The announcement comes a day after Puma issued disappointing quarterly and annual forecasts. 

March 12, 2025: Volkswagen to sack 1,600 employees

Volkswagen is set to lay off 1,600 employees at its software subsidiary, Cariad, by the end of the year, according to a report by Handelsblatt. The layoffs will affect nearly 30% of Cariad’s 5,900-strong workforce and will primarily be carried out through redundancy programmes. The job cuts are aimed at streamlining operations within its software division. 

March 11, 2025: Renault cuts hundreds of jobs amid slow demand

Renault would cut 300 jobs at a van factory in France, the carmaker said, responding to slowing European demand for commercial vehicles in the wake of growing economic uncertainty. The French company makes about 14% of its sales from the vehicles used by delivery companies and tradesmen.

March 8, 2025: DHL to slash 8,000 jobs this year 

German logistics giant DHL Group plans to cut about 8,000 jobs this year after reporting a 7.2% decline in annual operating profit. The layoffs will impact its Post & Parcel Germany division, which handles mail and parcel delivery within Germany and other countries. DHL employs around 602,000 people globally, including 190,000 staff in its Post & Parcel Germany unit.

March 6, 2025: JioStar to lay off 1,100 employees 

JioStar would lay off about 1,100 employees as part of its restructuring efforts. The layoffs, aimed at reducing overlapping roles, started last month and would continue until June 2025. The job cut is likely to impact corporate roles across distribution, finance, commercial, and legal departments. The move is a direct result of the consolidation process following the Viacom18-Disney merger in November 2024. 

March 7, 2025: Hewlett Packard plans to slash 2,500 jobs 

Hewlett Packard Enterprise, the American data server equipment maker, would lay off around 2,500 employees over the next 18 months as part of a cost-cutting programme. The job cuts were announced after the company reported disappointing financial results for the first quarter of FY25. As of October, its total workforce stood at 61,000. By cutting around 5% of its workforce, the firm aims to save $350 Mn by 2027.

March 7, 2025: Wayfair lays off hundreds of tech employees

Wayfair announced that it laid off 340 employees from its technology team and plans to close its Technology Development Center in Austin, Texas. The retailer will maintain Technology Development Centers in Seattle, Boston, Mountain View, California, Toronto, and Bengaluru.

March 3, 2025: Ola Electric cuts over 1,000 jobs 

Bhavish Aggarwal-led Ola Electric laid off more than 1,000 employees across sales, distribution, and marketing as part of a major internal restructuring. Many of the impacted employees were part of its on-ground distribution network, according to sources. However, Ola Electric has not officially confirmed the layoffs, insisting that this is a “strategic restructuring exercise” aimed at optimising operations.

Feb 28, 2025: Flipkart shuts down ANS Commerce, lays off workforce

Flipkart has announced shutting down operations of ANS Commerce, the Gurugram-based e-commerce solutions provider, which it acquired in 2022. While the company has assured a “smooth transition” for impacted employees, the number of job losses remains undisclosed. Flipkart is offering internal opportunities, outplacement support, and severance packages to affected workers.

Feb 25, 2025: DBS cuts about 4,000 jobs

Singapore's biggest bank, DBS, is likely to cut about 4,000 roles over the next three years as AI takes on more work currently done by humans. The move will affect temporary and contract staff with the reduction in the workforce coming from "natural attrition" as projects are completed. 

Feb 20, 2025: TikTok sacks staff at trust and safety unit 

TikTok would lay off global staff at its trust and safety unit that handles content moderation as part of a restructuring. The reductions began in regions including Asia, Europe, the Middle East, and Africa. Specific details regarding the number of affected employees in the US were not disclosed

Feb 19, 2025: Porsche to cut 1,900 jobs 

Luxury sports carmaker Porsche has announced plans to cut 1,900 jobs in Germany, citing high manufacturing costs, weak demand, and intense competition—especially in the electric vehicle market. The job reductions would take place over the next few years at Porsche’s Stuttgart headquarters and its nearby research center, the company said.