Here are the top 10 biggest layoffs in the corporate world in 2021:
1. Walt Disney Company – In November 2020, Disney announced plans to lay off about 32,000 employees across its theme parks, resorts, and consumer products divisions due to the impact of the COVID-19 pandemic.
2. CVS Health – In August 2021, CVS Health announced plans to lay off approximately 300 employees across its corporate headquarters, as part of a restructuring effort to streamline operations.
3. American Airlines – In February 2021, American Airlines announced plans to lay off approximately 13,000 employees as a result of the sharp decline in air travel demand caused by the COVID-19 pandemic.
4. Boeing – In March 2021, Boeing announced plans to lay off about 10% of its workforce, which amounts to around 16,000 employees. The aerospace company continues to face significant challenges due to the pandemic and the grounding of its 737 Max aircraft.
5. Wells Fargo – In August 2021, Wells Fargo announced plans to lay off approximately 26,000 employees over the next three years, as part of its ongoing efforts to streamline operations and reduce costs.
6. Chevron – In July 2021, Chevron announced plans to lay off around 10%-15% of its global workforce, which amounts to roughly 4,500 to 6,750 employees. The layoffs were made in response to the weakened demand for oil and gas due to the pandemic.
7. Coca-Cola – In December 2020, Coca-Cola announced plans to lay off about 2,200 employees globally as part of its restructuring efforts to focus on its core products and streamline operations.
8. Charles Schwab – In October 2021, Charles Schwab announced plans to lay off approximately 1,000 employees, representing about 3% of its workforce. The layoffs were partially attributed to the integration of TD Ameritrade, which the company acquired in 2020.
9. ExxonMobil – In October 2021, ExxonMobil announced plans to lay off around 1,900 employees in the United States as part of a cost-cutting initiative amid the decline in oil and gas prices.
10. United Airlines – In February 2021, United Airlines announced plans to lay off approximately 14,000 employees as a result of reduced air travel demand caused by the COVID-19 pandemic. However, the company was able to minimize the layoffs through government payroll support programs.
It’s important to note that these figures are subject to change, and other significant layoffs may have occurred since the time of writing.