The economy is getting stronger, but despite that, there are companies that are removing thousands of workers from their organization. You’ll be surprised to find that these companies are some of the most popular companies in the whole world.
- Barclays. The bank announced that they would be slashing out 19,000 jobs for the coming three years. They recently eliminated 7,000. They claim this move will improve the bank. The company’s shares went up 7 percent the day they announced the layoffs, which means happier investors.
- Microsoft. Even though the company experienced a recent upswing, CEO Satya Nadella still decided to lash out 18,000 jobs for the next year, which is roughly 14 percent of the giant tech company’s workers.
- Hewlett-Packard. HP shares increased 27 percent recently due to the cost cutting the company has executed, which includes recently firing 34,000 employees and another 11,000 to 16,000 more to come. The laying off of employees will save the giant tech company $1 billion every year.
- Cisco System. Sales in this big tech company are gradually decreasing, making the executives cut off some employees. They are planning to fire 6,00 just for this week.
- JP Morgan Chase. The company is planning to lay off 8,000 employees from their consumer and banking division, but it will add 3,000 more jobs in other departments of the company.