Mass layoffs have always been part of the global business landscape, but over the past three decades and especially in the last few years, their scale, frequency, and impact have increased dramatically. Companies facing economic downturns, competitive pressure, restructuring, or rapid technological change often turn to workforce reductions as their quickest path to survival or profitability.
But behind every headline announcing thousands of job cuts lies something deeper: a shift in how industries operate, how businesses adapt, and how the global workforce must evolve.
This article takes a detailed look at 10 of the largest job layoffs in world history, spanning tech, finance, manufacturing, and service sectors. These events reveal major turning points in the global economy and offer a sobering reminder of how quickly corporate landscapes can change.
Let’s take a look at the list
- IBM (1993) — ~60,000 Layoffs
- Citigroup (2008) — ~50,000 Layoffs
- UPS (2025) — ~48,000 Jobs Cut
- Amazon (2025) — ~30,000 Corporate Layoffs
- Intel (2025) — ~25,000 Layoffs
- Verizon (2025) — 15,000 Layoffs
- Microsoft (2025) — 15,000 Layoffs
- Tata Consultancy Services (2025) — 12,000 Layoffs
- Panasonic (2025) — ~10,000 Jobs
- Boeing (2020) — ~7,000 Layoffs
IBM (1993) — ~60,000 Layoffs
In 1993, IBM conducted one of the largest corporate layoffs in history, cutting around 60,000 jobs. At the time, IBM was facing a major identity crisis. The personal computer revolution was exploding, but IBM, once the king of enterprise hardware found itself losing market share and weighed down by outdated business models.
This restructuring led by Lou Garstner marked a full cultural and strategic transformation. IBM eventually reinvented itself by pivoting heavily into consulting, enterprise services, and later, cloud computing. Yet this layoff remains one of the most referenced examples of large-scale restructuring in tech history.
Citigroup (2008) — ~50,000 Layoffs
The 2008 financial crisis triggered a shockwave across global banking, and Citigroup was one of the hardest hit. The bank eliminated roughly 50,000 jobs in a single move, a cut so large it became symbolic of the entire crisis.
Plummeting credit markets, toxic mortgage-backed assets, and liquidity issues forced Citi into aggressive cost-cutting. These layoffs were part of a broader liquidation and bailout effort that reshaped the banking industry for the next decade.
UPS (2025) — ~48,000 Jobs Cut
In a historic move, UPS announced 48,000 job cuts in 2025, reshaping its operations at a scale never seen before in logistics. Automation technologies such as automated sorting systems, AI-driven routing, and autonomous vehicles are reducing human labor needs across the supply chain. Declining package demand in certain markets and rising operational cost pressures also contributed to the cuts.
This layoff signals a new era where logistics giants increasingly rely on robotics, not manpower.
Amazon (2025) — ~30,000 Corporate Layoffs
Amazon’s 2025 restructuring marks one of the largest white-collar layoffs in the company’s history, with up to 30,000 corporate roles reportedly on the chopping block.
Rising AI adoption, cost pressures, and a push for a leaner organizational structure are the main drivers. Amazon is consolidating teams, reducing mid-management layers, and shifting more investment into automation, robotics, and AI-driven logistics.
This is a major signal of how even the most powerful global corporations are aggressively streamlining.
Intel (2025) — ~25,000 Layoffs
The semiconductor industry is undergoing massive change, and Intel’s 2025 workforce reduction estimated at 21,000+ jobs — reflects its effort to stay competitive in the AI chip race.
The company is optimizing its foundry operations, cutting certain legacy teams, and focusing more on advanced chip design. This is one of Intel’s largest layoffs ever and highlights how competitive and capital-intensive the chip industry has become.
Verizon (2025) — 15,000 Layoffs
Verizon’s 2025 plans is to layoff roughly 15,000 employees — standing as the largest in the company’s history. With rising network automation, reduced demand for certain consumer services, and intensifying competition in 5G infrastructure, the company initiated deep restructuring.
Telecom layoffs are increasingly tied to automation and shifts in how customers consume digital services.
Microsoft (2025) — 15,000 Layoffs
Microsoft cut about 6,000 jobs, or roughly 3% of its global workforce, in May 2025. This was followed by another 9,000 cuts in July, which amounts to about 15,000 in total layoffs. This workforce reduction is influenced by the heavy investments in AI which includes the $80 billion outlay on AI infrastructure.
Microsoft has not blamed AI directly for the cuts, instead citing organizational changes, improved efficiency, and shifting business priorities as reasons for the layoffs.
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Tata Consultancy Services (2025) — 12,000 Layoffs
TCS, typically known for stability and job creation, surprised the industry in 2025 by cutting nearly 12,000 employees.
Most cuts affected mid-level and senior roles, as the firm shifts toward AI-augmented workforce models and more automated service delivery. This shows how even service and outsourcing giants are now rethinking workforce structures due to AI efficiency gains.
Panasonic (2025) — ~10,000 Jobs
Panasonic’s global restructuring involved cutting around 10,000 jobs as the company rebalances its portfolio. The electronics giant is moving away from low-margin consumer products and refocusing on high-growth areas such as batteries, smart systems, and industrial IoT.
Large shifts in consumer electronics demand and rising production costs played major roles in this decision.
Boeing (2020) — ~7,000 Layoffs
The aviation industry suffered immeasurably during the COVID-19 pandemic, leading Boeing to cut around 7,000 jobs from 2020 onward.
Travel bans, aircraft order cancellations, and the ongoing 737 Max crisis created a perfect storm. Boeing’s layoffs demonstrated how global crises can bring even the most established companies to their knees.
Why These Layoffs Happened — Key Patterns
After examining the top layoffs, several recurrent themes emerge. Understanding these helps businesses and leaders make more strategic, forward-looking decisions:
- Technological Disruption
Many layoffs are rooted in automation, AI, and changing infrastructure. Amazon’s cuts, for instance, are explicitly tied to AI-driven efficiency. - Strategic Restructuring
Companies like IBM used layoffs as part of fundamental pivots in business model — hardware → services. - Over-expansion During Booms
Rapid hiring during favorable periods can lead to unsustainable payroll burden when growth slows. - Economic Cycles
External macro shocks — like the 2008 financial crisis or COVID-19 — accelerate workforce reductions. - Cost Pressures & Efficiency Drives
Many firms are not just cutting costs — they’re rethinking how to operate leaner, flatter, and more efficiently.
Impact on Workers and the Economy
Mass layoffs don’t just reshape companies — they ripple through labor markets, communities, and the global economy. Let’s take a look at how these decisions affect every sector associated with these layoffs.
- For employees: Job loss affects income security, mental health, and career trajectories. Many must reskill, switch industries, or accept lower compensation roles.
- For economies: Layoffs dampen consumer spending, increase social safety net demands, and contribute to labor-market instability.
- For companies: While cutting roles saves money, it also risks losing institutional knowledge, damaging morale, and hurting brand reputation.
These cuts are not simply points on a spreadsheet, they represent profound human and economic cost.
The Take Away
The largest job layoffs in the world demonstrate how industries evolve, how companies adapt, and how employees must constantly prepare for change. From IBM to Amazon, Intel to UPS, the message is clear: business environments are shifting faster than ever. While layoffs are sometimes unavoidable, how companies handle them and how workers prepare — defines long-term resilience.
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