Global Layoff Wave: Tech and Luxury Giants Slash Over 25,000 Jobs

Multinational giants including Microsoft, Amazon, Panasonic, PwC, CrowdStrike, and Burberry have announced significant layoffs, totaling over 25,000 jobs globally. These cuts are part of broader cost-cutting and restructuring efforts to boost efficiency and profitability.

LayoffsRestructuringMicrosoftAmazonPwcReal EstateMay 18, 2025

Global Layoff Wave: Tech and Luxury Giants Slash Over 25,000 Jobs

Real Estate:In recent weeks, multinational corporations across various sectors have announced massive layoffs, totaling over 25,000 jobs worldwide. The layoffs, affecting technology, fashion, cybersecurity, and consultancy sectors, are part of broader cost-cutting and restructuring initiatives aimed at enhancing efficiency and profitability. These moves come as companies respond to shifting market dynamics and operational challenges. Microsoft has announced the layoff of over 6,000 employees, approximately 3 percent of its global workforce, as part of a deep internal overhaul. The cuts primarily target middle management roles, designed to flatten organizational layers and improve decision-making speeds. “This is not about performance—this is a structural change,” a Microsoft official stated. The firm, which still maintains a focus on AI investment, has introduced a stricter performance management system, including a two-year rehire ban for underperformers and mandatory response to performance improvement plans within five days. This is Microsoft’s most significant layoff since 2023, when it cut 10,000 jobs. Amazon has trimmed around 100 jobs from its devices and services division, home to products like Echo and Fire TV, following an internal review to better align staff with evolving product strategies. “As part of our ongoing work... we’ve made the difficult decision to eliminate a small number of roles,” a company spokesperson told Reuters. CEO Andy Jassy is spearheading a leaner corporate structure with fewer layers of management, pushing for a 15 percent increase in the individual contributor-to-manager ratio. Jassy has been vocal in promoting meritocracy and operational efficiency across Amazon's sprawling organization. Panasonic plans to eliminate 10,000 jobs—4 percent of its global workforce—by March 2026, citing the need to address “exceptionally high” general and administrative costs. “Compared with industry peers that have already moved ahead with structural reforms, our selling, general and administrative expenses ratio remains exceptionally high,” said President Yuki Kusumi in a press briefing. Half the layoffs will affect Japanese operations, with the remainder hitting overseas divisions. The company is consolidating sales and back-office functions and may divest underperforming segments such as its television business. Panasonic anticipates a ¥130 billion (£730 million) earnings hit from the restructuring. PricewaterhouseCoopers (PwC) has let go of 1,500 employees—approximately 2 percent of its US workforce—mostly from audit and tax departments, citing “historically low attrition rates.” “This was a difficult decision, and we made it with care, thoughtfulness, and a deep awareness of its impact on our people,” PwC stated. The firm reportedly delivered the news through abrupt “time-sensitive” Teams meetings, catching many recent hires and near-promotees off guard. PwC, along with fellow Big Four firms Deloitte and KPMG, has scaled back campus recruitment and hiring in light of a softening business environment. Cybersecurity leader CrowdStrike has reduced its workforce by 5 percent—about 500 jobs—despite a 25 percent rise in quarterly revenue, totaling $1.06 billion. The cuts aim to streamline operations and allocate resources to strategic areas like product engineering and customer support. “While we will continue to prudently hire... we are reducing roles in some areas of the business,” CEO George Kurtz said in a company-wide message. The company, which is targeting $10 billion in annual recurring revenue by 2026, expects up to $53 million in restructuring-related expenses. Under new CEO Joshua Schulman, Burberry is slashing 1,700 positions—nearly 20 percent of its global workforce—in a dramatic cost-saving campaign. Most roles cut are office-based, and the Castleford trench coat factory night shift will be scrapped due to inventory overstock. “Our brand metrics have all shown a significant improvement in the second half versus the first half,” Schulman noted. Despite a 6 percent sales dip in the final quarter, Burberry posted a £26 million profit for FY25. Schulman is steering the brand back to its British heritage while shedding underperforming segments and doubling down on luxury leather goods. These layoffs, while varied in sector and scope, underscore a common theme: the global corporate world is recalibrating. With rising operational costs, technological disruptions, and changing consumer preferences, firms are moving away from bloated hierarchies and underperforming divisions. Consultancy group McKinsey & Company noted in a 2024 report that “post-pandemic optimism gave way to fiscal discipline” as companies grapple with inflationary pressures, uneven recovery, and investor demand for leaner operations. While some critics argue that corporations are prioritizing profit over people, especially amid record profits in sectors like tech, others contend that proactive structural reforms may be necessary to safeguard long-term sustainability.