Layoffs and budget cuts—tracking economic moves and news
How brands and agencies are bracing for a recession and responding to deteriorating market conditions
Latest updates
Zoom to cut 1,300 Jobs, or 15% of global workforce
Dell to cut about 6,650 jobs
Huge lays off 6% of staff
PayPal to cut 2,000 jobs
Hubspot to lay off 500 employees
Workday cuts 3% of global staff
Goodyear to trim salaried workforce by about 5%, or 500 jobs
Work & Co lays off 8% of staff
Big tech layoffs hit DE&I jobs hard
Spotify to cut about 6% of jobs
Vox Media cuts 7% of workforce as ad sales fail to rebound
Wayfair trims 10% of its workforce
Google parent to cut about 12,000 jobs
Microsoft plans 10,000 job cuts, to take $1.2 billion charge
Crypto.com lays off another 20% of workforce, following massive layoffs this summer
With the economy slowing down after unprecedented supply chain woes and inflation at its highest in decades—and a growing number of economists predicting a recession—the job market is taking a turn for the worse, with several marketers and agencies already announcing layoffs.
If the tightening continues, it will mark a major shift in the agency, brand marketing and media industries, where the biggest problem employers had been facing was finding enough talent to fill open positions. Now, firms could soon have to decide which jobs to cut.
Below, we track the latest layoff announcements and other budget-cutting news from major marketers and agencies, plus economic headlines to know about. Know about other layoffs in the industry? Here’s how to reach us with the news.