Layoffs Are Back. JPMorgan, Chevron, And More—Why Across All Sectors Nearly Half Of Companies Expect Job Cuts In 2025?

If you thought the wave of layoffs in 2024 would ease up, think again. The job market in 2025 is off to a brutal start.

A recent survey found that 45% of U.S. companies anticipate layoffs this year. The main reasons? Economic uncertainty, AI automation, and policy changes under the Trump administration.

JPMorgan Chase Kicks Off 2025 Layoffs

Even the banking sector isn’t immune. JPMorgan Chase started informing employees last week that job cuts were coming. According to reports, fewer than 1,000 employees will be let go in February. But this is just the beginning—more cuts are expected later in the year.

The bank insists it’s just “regular management of the business,” noting that it still has 14,000 open positions and is trying to redeploy affected employees. Despite these cuts, JPMorgan isn’t exactly struggling—it made record profits in 2024 and remains the biggest U.S. bank by assets.

Chevron

Coming to Big Oil Companies, Chevron is set to lay off 15% to 20% of its global workforce by 2026, aiming to cut costs, streamline operations, and finalize a major acquisition.

The oil giant has been dealing with production delays, cost overruns, and a bumpy ride in Kazakhstan, where a major oilfield project hasn’t gone as planned. On top of that, Chevron’s $53 billion bid to acquire Hess—which would give it a slice of Guyana’s booming oil industry—is currently stuck in a legal showdown with Exxon Mobil.

Meanwhile, Chevron is looking to shave off $3 billion in expenses by 2026 through tech upgrades, asset sales, and restructuring.

How Many Jobs Are on the Line?

At the end of 2023, Chevron had 40,212 employees worldwide. If the company follows through with its 20% job cut, around 8,000 workers could be out. And that’s not including the 5,400 employees at its service stations.

Chevron’s refining business posted its first loss since 2020 as margins on gasoline and diesel took a hit. That’s added pressure on CEO Mike Wirth, whose leadership has already been tested by previous failed acquisitions.

Chevron’s stock took a 1.3% dip, while the broader S&P 500 Energy Sector index fell 2.4%. Year-to-date, however, Chevron’s shares are still up 5.6%.

What’s Next for Chevron?

—Employees have been told they can opt for buyouts through April or May.
—A new leadership structure will be announced within two weeks as part of the reorganization.
—The company is doubling down on mergers and operational efficiency rather than drilling new wells.
—If the Hess deal falls through, it would mark Chevron’s second failed acquisition under Wirth after the Anadarko bid collapsed in 2019.

Chevron has already moved its HQ from California to Houston and is ramping up operations in India, where it’s setting up its largest tech center outside the U.S.

Why Are Tech Companies Laying Off So Many People?

Coming to the Big tech sector, is on a massive AI hiring spree, but there’s a catch—they’re cutting jobs elsewhere to make room.

Companies like Amazon, Meta, and Microsoft are slashing headcount in some areas while aggressively hiring for machine learning and AI engineering roles. The goal? Outpace OpenAI in the race for AI dominance.

This shift isn’t entirely new. The tech industry went through a major shake-up and layoffs in 2024 and 2025 seem more like a strategic hiring reset than just cost-cutting. Instead of hiring broadly across tech roles, companies are now laser-focused on AI talent.

But Is 2025 going to be the Year of Tech Layoffs?

If numbers are anything to go by, yes. According to layoffs.fyi, a platform tracking job cuts in tech, 19 companies have already laid off around 5,200 workers in 2025.

But this is part of a bigger trend—what started as a ripple in 2022 became a wave in 2023, peaking when 585 tech companies cut jobs. The layoffs eased in 2024, but the numbers were still staggering – 542 companies laid off 151,484 employees. Now, in 2025, the cycle continues as the industry shifts priorities.

Who’s Cutting Jobs?

1) Microsoft Layoffs—No Severance Offered

Microsoft was one of the first big names to announce layoffs in 2025, hitting multiple divisions, including its security unit. The company called these “performance-based” layoffs, meaning they let go of employees who didn’t meet their internal standards.

But the real shocker? No severance. Despite sitting on $80 billion in cash, Microsoft decided against offering severance packages.

“It’s hard to comprehend after years of positive feedback,” one former employee stated. “I had no indication I was at risk.”

2) Meta Cuts 5% of Workforce

On Monday, Meta CEO Mark Zuckerberg announced another round of layoffs, this time affecting 5% of its workforce as part of a broader cost-cutting strategy.

One employee shared, “I felt blindsided when I received the email. I have a strong track record, and there’s been no sign of any performance concerns over the last six months.”

3) Stripe, Salesforce, and Amazon 

Stripe

In what might be one of the most bizarre layoff blunders, Stripe accidentally attached a cartoon of a yellow duck labeled “US-Non-California Duck” to termination emails.

Beyond the embarrassment, the real news is that Stripe is laying off 300 employees across product, engineering, and operations. This comes just two years after a massive 14% workforce reduction in 2022 due to overhiring during COVID-19.

What’s odd? Stripe claims it will also grow headcount by 17% in 2025—raising questions about whether this is real restructuring or a calculated cost-cutting play.

Salesforce

At the beginning of February, Salesforce announced it would lay off 1,000 employees, marking its first major job cut since July 2024. The company framed it as a move to eliminate underperformers and refocus on AI, particularly its new initiative, Agentforce.

“This was a tough pill to swallow,” one affected employee shared.

Amazon

Meanwhile, Amazon’s return-to-office (RTO) policy is stirring controversy. Some insiders claim it’s nothing more than a “backdoor layoff” strategy designed to push employees out without officially announcing job cuts.

The company’s new five-day-a-week in-office rule in 2025, is affecting employees across its communications and sustainability divisions—the same teams rumored to face direct layoffs soon.

One X user pointed out, “Amazon uses RTO mandates to conceal indirect layoffs. No bad press if people choose to quit because they don’t want to come back to the office.”

4) Google

Google is taking a different approach to layoffs—introducing a voluntary exit program for employees in its Platforms & Devices division, which oversees Android, Chrome, Pixel, and Nest.

Instead of outright firings, Google is offering generous severance to those who choose to leave. But many see it as a subtle way to shrink headcount without making headlines.

Why Nearly Half of Companies Are Bracing for Layoffs in 2025

If you thought the wave of layoffs in tech was sector-specific, think again. Across industries, 45% of companies anticipate workforce reductions in 2025, with 11% confirming layoffs are definite and 34% saying they’re likely.

While most companies expect modest cuts, the numbers still raise concerns –

• 28% will cut fewer than 5% of their workforce.
• 44% expect 5% to 10% reductions.
• Only 8% anticipate mass layoffs affecting 25% or more of employees.

Beyond layoffs, companies are also tightening their belts in other ways – 

• 31% have a hiring freeze (with another 13% planning one this year).
• 32% are cutting or reducing bonuses.
• 25% are downsizing office space.
• 17% are reducing employee benefits.
• 12% are slashing salaries (35% applying cuts across all employees, while 30% are targeting underperformers).

It’s no surprise that AI adoption is reshaping workforce needs, with 32% of companies citing automation as a reason for layoffs.

But here’s a twist—24% of companies say Trump’s policies could also impact their layoff plans, reflecting uncertainty around regulations, trade policies, and economic shifts under the new administration.

Biotech Layoffs

Another industry in crises seems to be the biotech sector which is facing a growing layoff trend, with a 3% increase in 2024 compared to 2023 and continuing into 2025.

Some major players that have made cuts so far – 

Inventiva: The French biotech is halving its workforce as it prioritizes its investigational MASH drug, lanifibranor.

FThird Harmonic Bio: Laying off 50% of its workforce while pushing its chronic spontaneous urticaria drug into Phase 2 trials.

Q32 Bio: Discontinuing a Phase 2 trial and exploring “strategic options” to extend its cash runway into 2026.

X4 Pharmaceuticals: Cutting 43 employees (30% of staff), shuttering its Vienna facility, and halting preclinical programs to refocus efforts.

Viracta Therapeutics: Closing its doors entirely, laying off all employees, and shutting down operations.

Frontier Medicines: Laying off an undisclosed number of employees, saying it is “streamlining operations for greater efficiency.”

Kyowa Kirin: Cutting 52 jobs at its North American HQ in Princeton, NJ.

Bristol Myers Squibb: Another round of cost-cutting layoffs, this time impacting 67 employees in New Jersey.

Turnstone Biologics: “Reducing its workforce” while searching for “strategic alternatives” for its business.

Omega Therapeutics: Running out of cash, potentially filing for bankruptcy, and laying off up to 17 people.

The Last Bit

While big tech layoffs aren’t new, 2025 is proving different. Companies like Meta, Microsoft, Amazon, Salesforce, and Google are cutting jobs at scale, but here’s the catch: they’re still hiring aggressively in AI, machine learning, and automation—suggesting that traditional tech roles are being phased out in favor of specialized AI-driven roles.

For tech workers, the message is brutal but clear – adapt or risk obsolescence. Experience isn’t enough—staying ahead of AI and automation trends is key.

At the same time, 2025 layoffs might feel like an economic bloodbath, but the layoff trend isn’t slowing down—with automation, cost-cutting, and political uncertainties shaping hiring decisions, it’s clear that many of these cuts aren’t just about financial struggles. Companies are shifting resources to AI, automation, and machine learning, leading to mass layoffs in other departments.