Over 170 U.S. companies expected to announce job cuts in June

U.S. white-collar workers have been feeling the heat of a turbulent economy since the start of 2025.

With increasing pressure to cut down cost cuts in the face of uncertain economic conditions, mostly brought on by President Donald Trump’s trade policies, corporates are relying on sweeping head count reduction. However, layoffs in the tech sector have moderated so far in 2025, for the second year running.

The biggest layoffs of the year took place at Intel (NASDAQ:INTC) in April, when the chipmaker announced plans to cut over 20% of its workforce, amounting to roughly 22,000 jobs, as part of an effort to streamline management and reduce bureaucracy. Microsoft (NASDAQ:MSFT) was next in line after the tech giant reduced its global workforce by 3% or about 6,000 employees.

Layoffs in June

Going forward, in June, over 170 companies are expected to announce job cuts, according to WARNTracker.com, a website that tracks upcoming redundancies based on WARN notices filed by companies. The Worker Adjustment and Retraining Notification Act of 1988 requires employers performing large layoffs or office closures to give at least 60 days’ notice to employees and state officials ahead of mass layoffs or plant closures.

As per the website, JPMorgan (NYSE:JPM), Morgan Stanley (NYSE:MS) and Wells Fargo (NYSE:WFC) are among the companies implementing layoffs in the finance sector. Morgan Stanley will start eliminating roles in its New York offices starting June 17.

Meanwhile, JPMorgan has notified authorities in New Jersey that it will let go of about 100-250 employees, effective June 23. Wells Fargo may reduce a small part of its workforce in Iowa starting mid-June.

Walmart (NYSE:WMT), Coca-Cola (NYSE:KO) and eBay (NASDAQ:EBAY) have been listed among consumer goods firms cutting jobs.

As per a Reuters report in May, Walmart planned to cut around 1,500 jobs as part of a broader restructuring. This would impact teams across its global tech division, U.S. e-commerce fulfillment centers, and its advertising arm, Walmart Connect, the report added. As per WARNTracker.com, the retail chain would slash 50-100 positions in California and 250-500 positions in New Jersey beginning June 13.

Coca-Cola and eBay employees may witness job cuts in California and New York offices respectively later this month.

Procter & Gamble (NYSE:PG) also announced plans to eliminate 7,000 jobs over the next two years as part of a broad cost-reduction strategy.

In the healthcare sector, Pfizer (NYSE:PFE) and Novartis (NYSE:NVS) made a few job cuts this month. While Pfizer has laid off 50-100 employees in California, Novartis may make a few cuts towards the end of the month.

Chevron (NYSE:CVX), United Parcel Service (NYSE:UPS), and FedEx (NYSE:FDX) are some of the major companies making cuts in the industrial and energy sector. Other companies reducing headcount this month include Sodexo (OTCPK:SDXOF), NBCUniversal, Raytheon Technologies and Whirlpool (NYSE:WHR).