Job cuts

From Amazon to Microsoft, AI is driving thousands of job cuts worldwide

Year to date, companies have cited AI adoption as the reason for cutting over 50,000 jobs, although many believe the impact to be much larger.

McKinsey plans thousands of job cuts in slowdown for consulting industry

McKinsey’s leadership has discussed with managers in non-client-facing departments the need to cut about 10 per cent of headcount across their business, according to people with knowledge of the matter.

UBS may cut a further 10,000 jobs by 2027: Swiss report

A reduction of 10,000 jobs would equate to a 9 per cent cut in total jobs for the Swiss bank, which had around 110,000 employees at the end of 2024.

Meta’s Zuckerberg plans deep cuts for metaverse efforts draining company’s resources

Meta CEO Mark Zuckerberg is seen pivoting to more promising businesses like AI glasses.

Digital bank GXS cuts 82 jobs across the group, about 10% of its workforce

The Straits Times understands that staff in Malaysia and Singapore will be impacted by the cuts.

Behind job losses are real people. Companies need to remember that

This year alone, Singapore has seen a string of corporate “earthquakes”.

Ad giant Omnicom to cut over 4,000 jobs, fold legacy brands after IPG takeover

The merger comes as the advertising industry faces a serious threat as AI makes it easier for businesses to churn out own ads at scale and speed.

A tale of two economies: China’s painful transition

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Source: Tan Dawn Wei
Usage: ST
Pub date: 24 Nov
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Allianz to cut up to 1,800 jobs due to AI advances, says source

The company is actively examining how technological change will affect all employees, which could “also impact roles that are currently heavily reliant on manual processes”.

HP to cut up to 6,000 jobs in global AI overhaul

HP's job cuts reflect a growing trend across the tech sector, where companies are investing heavily in AI development.

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MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2025 SPH Media Limited. All rights reserved.