The full list of major US companies slashing staff this year, from Tesla and Lucid Motors to Google and Apple

Amazon is cutting hundreds of jobs from its cloud division known as Amazon Web Services, Bloomberg reported on April 3.

The reduction will impact employees on the sales and marketing team and those working on tech for its retail stores, Bloomberg reported.

“We’ve identified a few targeted areas of the organization we need to streamline in order to continue focusing our efforts on the key strategic areas that we believe will deliver maximum impact,” an Amazon spokesperson told Bloomberg.

On March 26, Amazon announced another round of job cuts after the company said it was slashing ‘several hundred’ jobs at its Prime Video and MGM Studios divisions earlier this year to refocus on more profitable products.

“We’ve identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact,” Mike Hopkins, SVP of Prime Video and Amazon MGM Studios, told employees in January.

This year’s cuts follow the largest staff layoff in the company’s history. In 2023, the tech giant laid off 18,000 workers.

Tesla CEO Elon Musk sent a memo to employees Sunday, April 14, at nearly midnight in California, informing them of the company’s plan to cut over 10% of its global workforce.

In his companywide memo, Musk cited “duplication of roles and job functions in certain areas” as the reason behind the reductions.

An email sent to terminated employees obtained by BI read: “Effective now, you will not need to perform any further work and therefore will no longer have access to Tesla systems and physical locations.”

On April 29, Musk reportedly sent an email stating the need for more layoffs at Tesla. He also announced the departure of two executives and said that their reports would also be let go. Six known Tesla executives have left the company since layoffs began in April.

Peloton CEO Barry McCarthy is stepping down, the company announced May 2. Along with his departure, the fitness company is also laying off about 400 workers.

McCarthy is leaving his role just two years after replacing John Foley as CEO and president in 2022. Peloton said the changes are expected to reduce annual expenses by over $200 million by the end of fiscal 2025 as part of a larger restructuring plan.

Careers site Indeed says it will lay off roughly 1,000 employees, or 8% of its workforce, as it looks to simplify its organization.

CEO Chris Hyams took responsibility for “how we got here” in a memo in May but said the company is not yet set up for growth after last year’s global hiring slowdown caused multiple quarters of declining sales.

Hyams said the latest cuts will be more concentrated in the US and primarily affect R&D and Go-to-Market teams. That’s in contrast to last year’s across-the-board reduction of 2,200 workers.

Under Armour confirmed it was conducting layoffs in its quarterly earnings report, which was released May 16.

The company said it will pay out employee severance and benefits expenses of roughly $15 million in cash-related and $7 million in non-cash charges this year related to a restructuring plan, with close to half of that occurring in the current fiscal quarter.

“This is not where I envisaged Under Armour playing at this point in our journey,” CEO Kevin Plank told investors on the company’s full-year earnings call. “That said, we’ll use this turbulence to reconstitute our brand and business, giving athletes, retail customers and shareholders bigger and better reasons to care about and believe in Under Armour’s potential.”

In a regulatory filing, Lucid Motors said it would lay off about 400 employees as part of a restructuring plan that should be complete by the end of the third quarter.

“I’m confident Lucid will deliver the world’s best SUV and dramatically expand our total addressable market, but we aren’t generating revenue from the program yet,” CEO Peter Rawlinson said in an email to employees obtained by TechCrunch.

The cuts come ahead of Lucid’s launch of its first electric SUV later this year. It comes over a year after the California-based company laid off 1,300 employees, TechCrunch previously reported.

John Deere, maker of the iconic green-and-yellow tractors, is laying off over 600 employees at factories in Illinois and Iowa, the AP reported July 1.

In May, John Deere said sales fell for the third consecutive quarter and projected that the declines would continue in the second half of its fiscal year.

Intuit announced on July 10 that it’s cutting its workforce by 10%. The layoffs will affect 1,800 employees nationwide, but the company plans to hire 1,800 new employees in “key areas” like engineering, InvestorPlace reports.

The refocus on other areas is following a shift in focus on AI within the company, according to the outlet.

Intuit’s stock dropped by 4.01% on July 10 after the company announced the layoffs.