March 21, 2025 – Global – Several major corporations, including Amazon, Morgan Stanley, Goldman Sachs, and Intel, are gearing up for significant job cuts in 2025 as they embrace cost-cutting measures and AI-driven restructuring. The rising adoption of artificial intelligence, coupled with economic uncertainties, is driving companies to streamline operations and reduce overhead costs.
Amazon Targets $3 Billion in Savings with 14,000 Job Cuts
Amazon (NASDAQ: AMZN) plans to eliminate approximately 14,000 managerial positions as part of its cost-reduction strategy. The e-commerce giant aims to save around $3 billion annually by increasing its ratio of individual contributors to managers by 15% by Q1 2025.
CEO Andy Jassy is pushing for a leaner corporate structure and recently mandated a five-day workweek, a move some employees believe is designed to encourage voluntary resignations.
Wall Street Layoffs: Morgan Stanley and Goldman Sachs
In the financial sector, Morgan Stanley is planning to lay off around 2,000 employees in late March—a 3% workforce reduction. While the cuts will likely exclude financial advisers, the firm is aiming to streamline operations following its expansion to over 80,000 employees in 2024.
Meanwhile, Goldman Sachs is preparing for 3-5% job cuts following its annual performance review, marking another wave of layoffs on Wall Street as firms grapple with lower deal volumes and economic uncertainty.
Intel Plans Restructuring Under New CEO
Tech giant Intel (NASDAQ: INTC) is also bracing for major layoffs as part of its AI-focused restructuring. The company, which posted a $19 billion loss in 2024, will reduce headcount under incoming CEO Lip-Bu Tan, who has already signaled “difficult choices” ahead. Middle management roles are expected to be heavily impacted.
Other Major Job Cuts Across Industries
- Bank of America (NYSE: BAC) recently cut around 150 junior banker positions, though most affected employees were offered roles outside investment banking.
- Workday (NASDAQ: WDAY) is reportedly slashing 8.5% of its workforce, affecting nearly 1,700 employees, as part of its cost-optimization efforts.
Broader Economic Trends Driving Layoffs
With AI reshaping operations and companies prioritizing efficiency over headcount, experts predict that more firms could announce workforce reductions in the coming months. The trend underscores the growing impact of AI automation and economic caution on global labor markets.
