Posted 12/22/2023, 6:01:00 PM
Nike, Intel Plan Layoffs While Citi Restructures in 2023-2024 Cost-Cutting
- Nike has a $2 billion cost-cutting plan through 2024 that includes layoffs starting in early 2023
- Intel reportedly warned about further job cuts in 2024, after making 5 rounds of cuts in 2023
- Citi is cutting management layers in 2024 as part of a major corporate reorganization dubbed "Project Bora Bora"
- 38% of business leaders surveyed expect layoffs in 2024, 50% expect hiring freezes
- 40% of leaders surveyed said they'll cut jobs to replace workers with AI, as tech companies like Dropbox, Google, and IBM have done