The manufacturing sector is confronting a daunting reality—a surge of layoffs impacting workers across industries. As economic dynamics evolve, companies face tough choices to navigate market shifts, technological progress, and shifting consumer demands. This listicle delves into the unsettling trend of manufacturing layoffs, spotlighting firms forced to reduce their workforce. Utilising industry reports, news updates, and company disclosures, we have compiled a list of manufacturers implementing significant layoffs. The intend is to reveal the scale of the issue and its wide-reaching ramifications for employees and the economy.
Though reasons for layoffs vary, common themes such as automation, offshoring, and cost-cutting contribute to workforce reductions. Exploring these factors helps understand the broader challenges the manufacturing sector encounters as it strives for competitiveness. Recognising the human toll, we acknowledge that each statistic represents individuals and families facing abrupt job loss. We also acknowledge potential ripple effects on local communities, from reduced consumer spending to strains on social support systems.
Understanding the extent of layoffs fosters dialogue and exploration of solutions to support affected workers and ensure manufacturing’s long-term resilience.
Since January 1st, 2023, 5487+ companies have announced mass layoffs.
Since January 1st, 2024, 1943+ companies have announced mass layoffs.[Last update: March 31, 2024].
Here is the list of companies that announced major layoffs and hiring freezes:
Apple
No. of Employees to be Laid off: 600
Industry: Technology
Quaker Oat
No. of Employees to be Laid off: 500
Industry: Technology
Dell Technologies
No. of Employees to be Laid off: 6000
Industry: Technology
Stellantis
No. of Employees to be Laid off: 2500
Industry: Automobile
Spruce
No. of Employees to be Laid off: 21% of the Workforce
Industry: Biotechnology
Sony
No. of Employees to be Laid off: 900
Industry: Consumer Products
Continental AG
No. of Employees to be Laid off: 7150
Industry: Automobile
Cisco Systems
No. of Employees to be Laid off: 4000
Industry: Technology
ThyssenKrupp AG
No. of Employees to be Laid off: 2370
Industry: Steel & Mining
Ford
No. of Employees to be Laid off: 2,700
Industry: Automobile
UPS
No. of Employees to be Laid off: 12,000
Industry: Logistics & Supply Chain
Okta
No. of Employees to be Laid off: 400
Industry: Technology
Microsoft
No. of Employees to be Laid off: 1900
Industry: Technology
Valeo
No. of Employees to be Laid off: 1150
Industry: Automobile
Corning Inc.
No. of Employees to be Laid off: 1000
Industry: Manufacturing
Salesforce
No. of Employees to be Laid off: 700
Industry: Technology
Tata Steel
No. of Employees to be Laid off: 2800
Industry: Manufacturing
Bosch
No. of Employees to be Laid off: 1200
Industry: Consumer Goods
Google
No. of Employees to be Laid off: 1000
Industry: Technology
Unity Software
No. of Employees to be Laid off: 1800
Industry: Technology
Enphase Energy
No. of Employees to be Laid off: 340
Industry: Energy & Utilities
Xerox
No. of Employees to be Laid off: 15% of Workforce
Industry: IT Services & Outsourcing
Bolt.Earth
No. of Employees to be Laid off: 20% of Workforce
Industry: Automobile
Agilent Technologies
No. of Employees to be Laid off: 400
Industry: Technology
General Motors
No. of Employees to be Laid off: 1300
Industry: Automobile
Guangzhou Automobile Group Honda
No. of Employees to be Laid off: 900
Industry: Automobile
Alstom
No. of Employees to be Laid off: 1500
Industry: Manufacturing
Maersk
No. of Employees to be Laid off: 10,000
Industry: Shipping & Ports
Pfizer
No. of Employees to be Laid off: 800
Industry: Biotechnology
VW Group
No. of Employees to be Laid off: 2000
Industry: Automobile
British Steel
No. of Employees to be Laid off: 2000
Industry: Metal & Mining
AGCO
No. of Employees to be Laid off: 900 (Furlough)
Industry: Manufacturing
Rolls-Royce
No. of Employees to be Laid off: 2500
Industry: Aviation
Qualcomm
No. of Employees to be Laid off: 1260 (2.5% of the workforce)
Industry: Technology
Goodyear
No. of Employees to be Laid off: 1200
Industry: Manufacturing
Matheson
No. of Employees to be Laid off: 335
Industry: Logistics
Emergent BioSolutions
No. of Employees to be Laid off: 400
Industry: Biopharmaceutical
GKN Aerospace
No. of Employees to be Laid off: 700
Industry: Aviation
Autoliv
No. of Employees to be Laid off: 8000
Industry: Automotiv
Tara Mines
No. of Employees to be Laid off: 650
Industry: Mining
Check-Cap Ltd.
No. of Employees to be Laid off: 90% of Employees
Industry: Medical Device
VDL Nedcar
No. of Employees to be Laid off: 1850
Industry: Automotive
Suncor Energy
No. of Employees to be Laid off: 1500
Industry: Energy & Utilities
Zendesk
No. of Employees to be Laid off:
Industry: Technology
Rolls Royce Holdings
No. of Employees to be Laid off: 3000
Industry: Automotive
Oracle (Cerner)
No. of Employees to be Laid off: 3000
Industry: Technology
Novavax
No. of Employees to be Laid off: 400 (20% of Employees)
Industry: Biotechnology
Volvo Cars
No. of Employees to be Laid off: 1300
Industry: Automotive
3M
No. of Employees to be Laid off: 6000
Industry: Manufacturing
Lucid Group
No. of Employees to be Laid off: 1300
Industry: Automobile
Amazon
No. of Employees to be Laid off: 9000
Industry: eCommerce
Meta
No. of Employees to be Laid off: 10000
Industry: Technology
Johnson & Johnson
No. of Employees to be Laid off: 1000
Industry: Healthcare
Source: Intellizence
