October Layoffs in Focus

It’s been a busy month for workforce reductions across major companies and sectors globally. A few standouts:

• Amazon announced it will cut approximately 14,000 corporate jobs, citing the need to streamline operations and invest further in AI-driven infrastructure—about 4% of its corporate workforce.

• Paramount Global (via its merger with Skydance Media) is initiating a first wave of 1,000 job cuts this week, as part of a plan to reduce around 2,000 positions to achieve $2 billion in cost savings.

• More broadly, many large employers across industries—from tech to retail—are reducing headcount as part of restructuring efforts driven by automation, shifting demand, and efforts to reduce bureaucracy and drive efficiency.

Key Takeaways

• Not just one sector: While tech companies are front-page examples, layoffs are occurring across media, retail, manufacturing and more.

• AI and automation are recurring themes: Many reductions attribute part of the reasoning to advances in AI or digital transformation enabling leaner teams.

• Cost control amid uncertainty: Some firms are reducing layers and corporate overhead even in the face of still-solid overall performance, indicating the focus is on future resilience rather than reactive cuts.

Implications for IT & Asset Management

These trends underscore a few practical considerations:

• Companies undergoing layoffs will likely accelerate asset off-boarding, equipment retrieval, and lifecycle transitions—making retrieval services even more critical.

• As firms restructure, there's heightened risk of untracked or abandoned hardware—meaning secure retrieval and documented chain-of-custody become even more valuable.

• With cost-reduction in focus, solutions that can reduce waste, avoid stranded assets, and protect data should be a high priority.