Here are the companies making job cuts

While the government cost-cutting initiative known as the Department of Government Efficiency, which resulted in thousands of federal job cuts, winds down, mass layoffs are still roiling corporate America.

Companies are under increasing pressure to trim costs against the backdrop of global economic uncertainty brought on by President Donald Trump‘s tariff policies. Several companies have announced price hikes. Layoffs mark another way to pull back.

Trade tensions have also raised concerns about the general health of the U.S. economy and the job market. While the April jobs reading was better than expected, a separate reading from ADP this week showed private-sector hiring hit its lowest level in more than two years.

Though many companies declined to provide specific reasoning for announced workforce reductions — instead lumping the layoffs in with larger cost-cutting strategies or growth plans — tech leaders are starting to cite artificial intelligence as a clear consideration in hiring and head-count reductions.

Klarna CEO Sebastian Siemiatkowski told CNBC on May 14 the fintech company has shrunk its head count by 40%, in part due to investments in AI. Likewise, Shopify CEO Tobias Lütke told employees in April that they will have to prove why tasks can’t be performed by AI before asking for more workers and resources.

Here are some of the companies that have announced layoffs in recent weeks:

Pampers and Tide maker Procter & Gamble said Thursday it will cut 7,000 jobs, or about 15% of its non-manufacturing workforce, over the next two years as part of a restructuring program.

CFO Andre Schulten said during a presentation that the company is planning a broader effort to implement changes across the company’s portfolio, supply chain and corporate organization.

The company did not specify the regions or divisions that would be affected.

Microsoft said on May 13 that it would reduce its workforce by about 6,000 staffers, totaling about 3% of employees across all teams, levels and geographies.

A Microsoft spokesperson told CNBC at the time that one objective of the cuts was to reduce layers of management. The company announced a smaller round of layoffs in January that it said were performance-based. The spokesperson said the May cuts were not related to performance.

Citigroup said in a statement Thursday it plans to reduce its staff by around 3,500 positions in China.

The cuts mostly affect the information technology services unit, which provides software development, testing and maintenance. Some of the affected roles will be moved to Citi’s technology centers elsewhere, the bank said.

Under the leadership of CEO Jane Fraser, Citi has undertaken a large-scale reorganization with an eye toward profitability and stock performance. The bank consistently underperformed its major bank peers in recent years.

Citi announced a broader plan in 2024 to reduce its workforce by 10%, or about 20,000 employees globally.

On May 21, Reuters reported that Walmart was planning to slash about 1,500 jobs in an effort to simplify operations. The teams affected include global technology, operations and U.S.-based e-commerce fulfillment as well as Walmart Connect, the company’s advertising business.

Walmart employs around 1.6 million workers, making it the largest U.S. private employer. CFO John David Rainey told CNBC during an interview May 15 that Walmart shoppers would likely see price increases at the start of the summer in response to tariffs.

Siemiatkowski said in May that the 40% cut in head count is due not only to AI but also to attrition, after the company instituted a hiring freeze.

The Swedish provider of buy now, pay later loans has been outspoken about its aggressive adoption of AI tools across the company, particularly in the customer service unit.

The company said last year that AI was doing the work of 700 customer service agents.

Cybersecurity software maker CrowdStrike on May 7 announced plans to cut 500 employees, or about 5% of its staff.

CEO George Kurtz in a securities filing attributed the move largely to artificial intelligence.

“We’re operating in a market and technology inflection point, with AI reshaping every industry, accelerating threats, and evolving customer needs,” he said, adding that the move was part of the company’s “evolving operating model.”

The Walt Disney Company said Monday it plans to cut several hundred employees worldwide across several divisions. The layoffs affect teams…