New York : A growing number of major US companies are moving forward with large-scale layoffs and restructuring efforts, reflecting a broad shift toward cost reduction and automation across industries.

Over the past few months, firms ranging from technology giants to retail and energy companies have announced significant workforce reductions aimed at cutting costs, improving efficiency, and responding to changes in business demand.

According to data compiled by employment consultancy Challenger, Gray & Christmas, nearly 950,000 job cuts were announced in the United States by early October 2025, marking a 55 percent increase compared to the same period last year. Analysts now expect total layoffs for the year to surpass one million — the highest since the pandemic-driven cuts in 2020.

Among the largest recent announcements, Amazon is preparing to trim up to 30,000 corporate roles worldwide, roughly 10 percent of its office workforce. The company cited over-hiring during the pandemic and a need to streamline its operations as key reasons for the reduction. Other firms, including Nestlé, Applied Materials, and Paramount Skydance, have also announced thousands of job cuts as part of ongoing cost reviews.

The wave of layoffs is not confined to any single sector. Financial institutions such as Morgan Stanley have reduced staff for operational efficiency, while healthcare and manufacturing firms are scaling back due to economic headwinds and automation-driven changes. UnitedHealth Group has introduced voluntary buyouts, and energy producer ConocoPhillips has reduced positions in its Canadian operations.

Economists say these decisions highlight how companies are rebalancing their workforces amid technological transformation and shifting consumer habits. The rapid integration of artificial intelligence and automation tools has replaced or redefined many traditional roles, especially in administrative and support functions.

Despite a still-resilient labor market and stable unemployment rates, the widespread corporate belt-tightening signals a cautious outlook for 2026. Employers appear to be acting preemptively to guard against economic uncertainty while preparing for a more digital, AI-assisted future.

As layoffs rise across multiple sectors, workers are bracing for a period of transition. While some may find new opportunities in emerging industries tied to automation and technology, others face uncertainty as companies continue to redefine what a “lean and efficient” workforce looks like in the post-pandemic economy.