Job Cuts Coming at Over 170 US Companies in June 2025

Companies across various sectors are resorting to job cuts as a strategy to navigate economic uncertainties caused by tariffs and inconsistent trade policies. Financial institutions such as JPMorgan Chase, Morgan Stanley, and Wells Fargo are initiating layoffs, with Morgan Stanley starting eliminations in its New York offices on June 17. JPMorgan Chase has notified authorities in New Jersey of plans to lay off 100-250 employees, while Wells Fargo may reduce its Iowa workforce.

Walmart, Coca-Cola, and eBay are also implementing job cuts. Walmart, for example, planned to eliminate roughly 1,500 jobs across its eCommerce, fulfillment, and tech teams as part of a broader restructuring. These cuts include 50-100 positions in California and 250-500 in New Jersey.

A PYMNTS Intelligence report indicates that only a small percentage of American firms have replaced foreign suppliers with domestic ones in response to tariffs. This shows that companies are more focused on achieving operational efficiencies, such as reducing payroll and hiring, to manage the immediate impact of tariffs.

Data from the Bureau of Economic Analysis and the Census Bureau reveals that U.S. imports plunged 16.3% in April, totaling $351 billion compared to $419.4 billion in March. This decline underscores the real-world impact of tariffs on the American economy. The majority of CFOs from goods and retail companies surveyed in May reported increasing uncertainty and planning challenges because of tariffs.

Companies are cutting jobs to manage operational costs and navigate economic uncertainties caused by tariffs and inconsistent trade policies.

JPMorgan Chase, Morgan Stanley, Wells Fargo, Walmart, Coca-Cola, and eBay are among the companies planning layoffs.

Tariffs are causing increased uncertainty among CFOs, leading to potential reductions in operational costs, including payroll and hiring. They are also contributing to product shortages and price hikes.

Do you think this trend of job cuts will continue? What strategies can companies use to mitigate the impact of tariffs and economic uncertainty? Share this article with others who need to stay ahead of this trend!