Employees face cuts as firms look to reduce costs

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STORY: Source: Challenger, Gray & Christmas

Job cuts by U.S.-based employers jumped 13% to 33,843 in October, the highest since February 2021

Here are some of the major job cuts announced in recent weeks

Meta said it would cut over 13% of its workforce, more than 11,000 employees

Twitter laid off half its workforce after Elon Musk’s $44 bln takeover

Intel Corp’s CEO told Reuters 'people actions' would be part of its plan to reduce costs by $3 bln in 2023

Source: Axios

Microsoft laid off under 1,000 people this week

Lyft said it would lay off 13% of its workforce, or 683 employees, after announcing a hiring freeze in September

Source: Bloomberg

Warner Bros. Pictures is planning to reduce headcount by 5% to 10%

Stripe is reducing its headcount by about 14% and online banking firm Chime has cut about 160 jobs

EV startup Arrival said in July it may cut up to 30% of its workforce in restructuring

And it has further plans that could have a 'sizable impact' on its workers, mostly in the UK