Mastercard, Dow Announce New Layoffs as Corporate Job Cuts Continue

Amazon and UPS are among other major companies trimming workforces amid restructuring and shifting market conditions.

By yourNEWS Media Newsroom

Mastercard Inc. and Dow Inc. announced fresh rounds of layoffs this week, adding to a growing list of major U.S. companies reducing headcounts as executives cite restructuring efforts and changing market dynamics.

Mastercard said a strategic business review will lead to cuts affecting about 4 percent of its global workforce, a move disclosed during its Jan. 29 earnings call with analysts. The reduction could impact as many as 1,400 employees worldwide. Chief Executive Officer Michael Miebach said the company recently completed a strategic review that will result in workforce reductions in certain areas while increasing investment and focus in others. Chief Financial Officer Sachin Mehra said the company expects to record a one-time restructuring charge of about $200 million in the first quarter.

Dow also detailed significant job reductions during its Jan. 29 earnings call, announcing plans to eliminate 4,500 positions globally while reducing third-party roles and resources. The actions could cost up to $1.5 billion, including between $600 million and $800 million in severance payments. Chief Operating Officer Karen Carter said the changes are intended to speed decision-making, better align roles with customer investment patterns, and adapt to evolving ways of working.

The announcements place Mastercard and Dow among a growing group of large employers cutting jobs. Amazon said Jan. 28 it will eliminate about 16,000 positions as part of an ongoing restructuring aimed at reducing management layers and increasing investment in artificial intelligence. Beth Galetti, Amazon’s senior vice president of people experience and technology, told employees the company is working to be transparent about the changes and their rationale.

United Parcel Service has also confirmed plans to cut another 30,000 jobs this year as it unwinds parts of its partnership with Amazon. Chief Financial Officer Brian Dykes said during a Jan. 27 earnings call that the reductions will focus on operational positions and be carried out largely through attrition and a second voluntary separation program for full-time drivers.

Despite the high-profile announcements, broader labor market data suggest layoffs remain relatively contained. Initial jobless claims have hovered near historically low levels, with claims for the week ending Jan. 24 coming in at 209,000. Continuing claims declined for a third consecutive week to 1.827 million, signaling that many displaced workers are finding new employment.

Private-sector hiring has shown modest momentum. Payroll processor ADP reported that U.S. private employers added an average of 7,750 jobs per week in the four weeks ending Jan. 3, marking the seventh straight period of employment growth. Job postings on Indeed have also trended upward since early November 2025.

Global outplacement firm Challenger, Gray & Christmas is expected to release January planned job-cut data next week, with early estimates pointing to roughly 43,000 layoffs, up from 35,553 in December. Attention will then turn to the Bureau of Labor Statistics’ Feb. 6 release of the January nonfarm payrolls report, which will include benchmark revisions that could reveal weaker job growth over the past year.

Economists at Indeed have said the U.S. labor market is showing signs of strain, noting that labor-market churn will be a key indicator for Federal Reserve policymakers. In a Jan. 28 analysis, they said that if unemployment remains low while inflation eases, the Fed may be able to remain patient and consider rate cuts later in 2026. If hiring slows sharply or layoffs accelerate, they warned, the central bank could be pushed toward more aggressive action.

Federal Reserve Chair Jerome Powell said following the Fed’s Jan. 28 policy meeting that employment conditions are unlikely to deteriorate significantly, signaling limited near-term changes in monetary policy. Investors have nonetheless penciled in a potential quarter-point rate cut later this year, after Powell’s term as chair concludes.