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So far this year, employers have announced 300,749 job cuts, down 50% from the 602,493 cuts recorded through April 2025.

Short-term incentive plans, which are typically earned over a one-year period and paid in cash, can keep employees laser focused on the near-term goals of the company.

Many tech companies like Twitter and Meta have made drastic cuts to their workforces to reduce labor costs.

Microsoft to Lay Off Hundreds in Azure Business Microsoft is cutting hundreds of employees from its Azure cloud business, according to Business Insider.

Forty percent of workers would be willing to accept a pay cut of 5% or more to keep their remote job, and 21% would accept cuts of 10% or more.

Macy’s to Cut More Than 2,300 Jobs CNBC reports Macy’s will cut about 3.5% of its workforce and close five of its namesake mall locations as the legacy department store moves to trim costs and turn around slowing sales, The move will affect approximately 2,350 positions across its corporate office and stores, company spokesman Chris Grams said.

Last year, the company announced plans to cut 1,400 jobs amid restructurings.

Boeing to Cut 10% of Workforce As reported by CNN , aircraft maker Boeing plans to cut 10% of its total staff “over the coming months.