“A lot of people are looking around, scanning the job environment, scanning the opportunities that are available to them — whether it’s in the public or private sector,” said Schloetzer. “And I think there’s a question mark around the long-term stability everywhere.”
Here are some companies that have moved to cut jobs recently.
Novo Nordisk — which makes drugs like Ozempic and Wegovy — said the layoffs were part of wider restructuring as the company works to sell more obesity and diabetes medications amid rising competition.
A spokesperson for ConocoPhillips confirmed the layoffs on Sept. 3, noting that 20% to 25% of the company’s employees and contractors would be impacted worldwide. At the time, ConocoPhillips had a total headcount of about 13,000 — or between 2,600 and 3,250 workers. Most reductions were expected to take place before the end of 2025.
The latest job cuts hit Microsoft’s Xbox video game business and other divisions. The company has cited “organizational changes,” with many executives characterizing the layoffs as part of a push to trim management layers. But the labor reductions also arrive as the company spends heavily on AI.
