🚨 MASS LAYOFFS ARE GETTING OUT OF CONTROL.
In just the last 10 days, some of the world's biggest companies have announced thousands of job cuts.
Barclays: 5,000
American Express: 3,500
Volvo: 2,500
eBay: 1,000
Netflix: 1,000 (reported)
That's roughly 13,000 jobs affected ies.
Meanwhile, U.S. tech layoffs have surged 54% in 2026, with AI cited in over 120,000 job cuts across industries.
Companies are spending billions on AI while thousands of workers are losing their jobs.
In just the last 10 days, some of the world's biggest companies have announced thousands of job cuts.
Barclays: 5,000
American Express: 3,500
Volvo: 2,500
eBay: 1,000
Netflix: 1,000 (reported)
That's roughly 13,000 jobs affected ies.
Meanwhile, U.S. tech layoffs have surged 54% in 2026, with AI cited in over 120,000 job cuts across industries.
Companies are spending billions on AI while thousands of workers are losing their jobs.
Oct 23, 2026 · 6:02 PM UTC
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@macropaperr Strap in. None of this has even gotten started yet.
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@macropaperr @wendyp4545 Amex has roughly the same number of employees in India as the US. They haven’t announced the split but I think within the workplace headcount reductions overall they will be disproportionately lower wage lower skill foreign labor.
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@macropaperr Things are going to get difficult for anybody that does their job on a Computer. Like Seriously. More than that, they don't need actors anymore, Music can be made with AI. Heck they won't even need to outsource Telemarkers any more. This is going to effect a LOT
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@macropaperr @wendyp4545 Wells Fargo laid off about 10,000 people in Des Moines, Iowa they keep that shit hush-hush cause they don’t wanna affect their stock price prices, but I can guarantee you those employees have been going through it
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@macropaperr @wendyp4545 When nobody can afford to buy their products they will suffer from their lack of loyalty to their workers.
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@macropaperr Think we're approaching a local bottom of the undeclared depression.
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@macropaperr AI may be "cited", but my guess is 90+ percent is all H1B and offshoring.
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@macropaperr Happened at Fisher Scientific in Canada and US too. The fucked up thing is they are keeping us for another year while they train and set up the Costa Rica/Ai replacements who are working "alongside" us. Ultimate mind fuck and I've been enraged since it happened May of this year
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@macropaperr Here’s the other reason; declining birthrates since the 70’s and now youngest boomers are 62. We have a population that’s both aging and declining. There aren’t enough of the younger generations coming up to replace the lost retail demand for anything.
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@macropaperr Netflix makes bad content. Volvo started making crap cars. Ebay nobody buys from, barclays has too many people and amex not the cheapest credit card
Better management is needed is the common thread here
Better management is needed is the common thread here
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@macropaperr They say AI is replacing everyone,but then hire H1bs.
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@macropaperr Comcast just announced 15-30% of their workforce will be laid off.
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@macropaperr This is white collar learning AI came for them and took their jobs…not for the blue collar folks
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@macropaperr They will lose 75% of those billions. #AI crash coming.
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@macropaperr Is this the Golden Age where only the Epstein Class and corporations enjoy it?
Layoff Announcements in 2026:
1. UPS: 30,000 Employees
2. Oracle: 30,000 Employees
3. Amazon: 16,000 Employees
4. Omnicom: 15,000 Employees
5. Meta: 8,000 Employees
6. Microsoft: 4,800 Employees
7. Dow Chemical: 4,500 Employees
8. Cisco: Fewer Than 4,000 Employees
9. American Express: 3,840 Employees
10. Uber: 3,300 Employees
11. Renault: Up to 2,400 Employees
12. Nike: 1,400 Employees
13. General Motors: 1,300 Employees
14. Disney: 1,000 Employees
15. Citigroup: 1,000 Employees
The tech sector alone has seen 135,000 layoffs so far in 2026 across 330 companies.
Amid rising prices and AI adoption, US corporations are looking reduce expenses and increase efficiency.
Keep watching the labor market.
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@macropaperr Labour has promised to use the budget to spend hundreds of millions of pounds on "distinctively British ways" to help AI destroy jobs.
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@macropaperr Worst part AI is not generating any advantage to companies and security vulnerabilities will be the cost of AI for these companies laying of human workforce... poor decisions across the companies
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@macropaperr It's time for universal income. We cannot act any sooner.
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@macropaperr If any company does not reduce admin staff by 10% next year I will be extremely surprised. Then wage growth goes negative and the economics of our system fails fast. Govt have no clue how to handle.
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@macropaperr What about pur government
Certainly Ai had taken over many of their roles
Certainly Ai had taken over many of their roles
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@macropaperr The capitalists have been trained well. Profits are priority, that's it.
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@macropaperr @grok is this any different to normal fluctuations in labour markets?
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@macropaperr No worries since @elon said we no longer need to work because ai will take care of us. 👍
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@macropaperrt things sit in that list.
Some of these cuts come from firms under pressure. American Express is the other kind. It announced a 5% cut on 23 October, the same day it raised its full-year earnings outlook. Its CFO framed the move as preparing for AI.
The order of events has changed. Firms trim the payroll first and expect the AI to arrive afterwards.
So far the cost of the AI build has mostly sat on the balance sheets of the builders.
Cuts like this move part of it onto household income, the same income that services household debt.
Markets watch the builders' leverage every day. The household side of the same shift shows up later, and more slowly.
Some of these cuts come from firms under pressure. American Express is the other kind. It announced a 5% cut on 23 October, the same day it raised its full-year earnings outlook. Its CFO framed the move as preparing for AI.
The order of events has changed. Firms trim the payroll first and expect the AI to arrive afterwards.
So far the cost of the AI build has mostly sat on the balance sheets of the builders.
Cuts like this move part of it onto household income, the same income that services household debt.
Markets watch the builders' leverage every day. The household side of the same shift shows up later, and more slowly.
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@macropaperr Maybe those people are foreigners n now they will gob back to their countries.
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@macropaperr "AI cited" just means the company said so. Often it's a budget swap: pay for the compute by trimming payroll. Same exit interview either way, but the reason decides who's next.
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@macropaperr0 of the ~13,000 cuts (Barclays 5,000 + American Express 3,500) are tied to AI or AI preparation, for about 65%.
• Barclays explicitly links the reductions to technology/AI efficiencies in support and developer roles; Amex’s CFO described the 5% cut as making the firm “leaner, more agile, and also to prepare for AI” by reducing layers so automation can be applied later.
• Volvo (2,500), eBay (1,000), and Netflix (1,000) cite cost pressures, China/tariff losses, strategic simplification, slower growth, and competition with no AI attribution in the announcements.
• Barclays explicitly links the reductions to technology/AI efficiencies in support and developer roles; Amex’s CFO described the 5% cut as making the firm “leaner, more agile, and also to prepare for AI” by reducing layers so automation can be applied later.
• Volvo (2,500), eBay (1,000), and Netflix (1,000) cite cost pressures, China/tariff losses, strategic simplification, slower growth, and competition with no AI attribution in the announcements.
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@macropaperr Houses are gonna drop 500% after this. Next week you’ll get a mansion for $10
Everyone will lose their job but you
Everything is terrible but it’s good news for you and you will benefit.
Home sellers will be giving away there wives to you to sell their home!
Everyone will lose their job but you
Everything is terrible but it’s good news for you and you will benefit.
Home sellers will be giving away there wives to you to sell their home!
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@macropaperr maybe I'm delusional or something but in my opinion, UHI is our only hope
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