It has become increasingly difficult to find a job in the current economic climate, as many companies are slowing down hiring while trying to avoid large layoffs. Still, significant job cuts continue across industries, which has led to increased anxiety among workers. Notably, businesses often point to higher operational costs caused by President Trump’s recent tariffs, along with shifting consumer behavior or AI investments, as reasons for layoffs. Here are some of the most notable job cuts recently announced:
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- HP (HPQ) — Plans to cut 4,000–6,000 jobs by the end of fiscal 2028, partly to adopt AI and streamline operations.
- Verizon (VZ) — More than 13,000 employees are being laid off to simplify operations and “reorient” the company.
- General Motors (GM) — About 1,700 jobs will be cut due to slowing demand for electric vehicles, with more temporary layoffs expected next year.
- Paramount (PSKY) — Roughly 2,000 positions will be cut after its Skydance merger, plus more due to divestitures and return-to-office plans.
- Amazon (AMZN) — Around 14,000 corporate roles will be eliminated as the company shifts more funding toward AI.
- UPS (UPS) — About 48,000 jobs have been cut this year, along with the closure of 93 facilities during ongoing turnaround efforts.
- Target (TGT) — About 1,800 corporate jobs will be cut as part of streamlining efforts.
- Nestlé (NSRGY) — Plans to eliminate 16,000 jobs globally over the next two years amid higher costs and tariff pressure.
- Lufthansa (DLAKY) (DE:LHA) — Aims to cut 4,000 jobs by 2030 while adopting AI and consolidating operations.
- Novo Nordisk (NVO) — Will cut 9,000 jobs, about 11% of its workforce, as it restructures to compete in obesity and diabetes drugs.
Other companies, such as ConocoPhillips (COP), Intel (INTC), Microsoft (MSFT), and Procter & Gamble (PG), have also announced thousands of layoffs. At the same time, federal employees are facing even more uncertainty. In fact, shortly after Trump returned to office, thousands of federal jobs were cut, and the record 43-day government shutdown left many workers without pay. It also delayed key economic reports, and when the Labor Department finally released September data, it showed that unemployment rose to 4.4%.
Which Stock Is the Better Buy?
Turning to Wall Street, out of the 10 stocks listed above, analysts think that Amazon stock has the most room to run. In fact, Amazon’s average price target of $295.23 per share implies more than 28% upside potential. On the other hand, analysts expect the least from Lufthansa stock, as its average price target of €8.16 equates to a loss of 11%.
