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Albertsons won't insure employees' spouses if they're eligible for their own health coverage

Albertsons storefront with Savon PHARMACY signage and outdoor produce displays as a person walks past.
Albertsons is making several changes to its employee benefits to manage rising costs for 2027.

Jason Armond / Los Angeles Times via Getty Images

  • Albertsons will not provide health coverage for employees' spouses who can get insurance elsewhere.
  • The company says the move is intended to manage rising costs, which it expects to increase 9.5%.
  • In August, Disney also pulled back on benefits it will provide for workers' families.

Albertsons is curbing health care benefits for employees due to rising healthcare costs.

Starting next year, the grocery giant will no longer offer medical insurance plans to employees' spouses and domestic partners who have jobs that provide such coverage. The grocery giant detailed the change in an open enrollment guide posted to its website.

Albertsons said it expects its healthcare costs to increase 9.5% next year due to inflation, higher prescription drug costs, provider consolidation, and shortages in the healthcare workforce.

"Like employers across the country, Albertsons Companies continues to navigate rising health care costs while working to provide associates with access to quality, competitive benefits," a spokesperson said in a statement to Business Insider.

The spokesperson also said spouses and partners who don't have access to employer-based coverage will remain eligible for coverage on applicable health plans.

Other changes this year include higher weekly paycheck contributions from employees, the elimination of two network plans, along with higher deductibles and out-of-pocket maximums for some other plans.

Large companies Disney, Starbucks, and Deloitte have also introduced cost-saving changes to their benefits packages for 2027. Disney is also dropping coverage for partners and spouses who can get insurance from their own jobs.

"We've seen employers reducing their contribution toward the spouse's coverage, but not eliminating the coverage option for those people," Capitol Benefits CEO Joshua Lavine told Business Insider in August, regarding Disney's decision.

Read the original article on Business Insider

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Walmart just shared its Thanksgiving menu. Here's how it compares to other retailers.

Overhead table setting with roasted turkey, rolls, gravy, cornbread, citrus drinks, and plated place settings.
Retailers are focused on delivering value for this year's Thanksgiving meal baskets.

Walmart

  • Retailers are hoping to win shoppers with easy, affordable Thanksgiving meal options.
  • This year's lower per-person prices emphasize value as other cost pressures increase.
  • Walmart's meal basket also has more items than last year, plus the company will deliver it for free.

Americans once again face a critical choice this November: where to get their Thanksgiving dinner supplies.

By now, most major retailers have shared their recipes to win shoppers with easy, affordable meal options.

The largest of the bunch, Walmart, said Wednesday that this year's $35 meal basket offers more food and a lower price than last year's offering. Plus the deal includes free delivery.

To be precise, the company says the combo includes 18% more items and costs 12% less than last year, and is the lowest price in the history of the basket.

Other retailers have also managed to lower prices on their holiday meal deals, highlighting this year's focus on value as other cost pressures rise.

Per-person prices generally range from $3.50 to $5, but one key difference between the baskets is the amount of cooking involved.

Budget-minded baskets from Walmart, Lidl, and Aldi each lean more on ingredients to make a meal from scratch, while meal kits from Albertson's, Costco and Sam's Club cost more but come ready to heat and eat. Target says its $30 basket of basics can be combined with its ready-made menu items.

Here's what's included in each of the top retailers' meal offerings, and what it costs per serving.

Walmart — $3.50
Assorted groceries including a turkey, canned goods, marshmallows, cranberries and sweet potatoes arranged beside blue reusable bags.

Walmart

  • Butterball turkey
  • Stove Top stuffing
  • Ocean Spray cranberries
  • White potatoes
  • Great Value gravy
  • Great Value canned green beans
  • Campbell's cream of mushroom soup
  • Great Value dinner rolls
  • Sweet potatoes
  • Great Value fried onions
  • Jet-puffed mini marshmallows
  • Great Value canned corn
  • Jiffy corn muffin mix
  • Great Value canned pumpkin
  • Great Value evaporated milk
  • Great Value pie crust
  • Great Value whipped topping

Total cost: $35 for 10 people.

Lidl — $3.60
Lidl storefront with glass entrance doors, shoppers entering, and the yellow Lidl logo sign above the doorway.
People entering supermarket chain Lidl store on Tottenham Court Road on 3rd April 2026 in London, United Kingdom. Lidl Stiftung & Co. KG is a German global discount supermarket chain, that operates over 12,000 shops across Europe and the US. With its low price, discount approach, Lidl is rapidly becoming serious competition to the big four supermarkets in the UK. (photo by Mike Kemp/In Pictures via Getty Images)

Mike Kemp/In Pictures via Getty Images

  • Shady Brook Farms Frozen Whole Turkey — 14 lb.
  • Lidl 100% Pure Pumpkin
  • Fresh Yellow Onions — 3 lbs.
  • Fresh Pure Harvest Russet Potatoes — 5 lbs.
  • Fresh Celery
  • Lidl Chicken Broth
  • Lidl Cream of Mushroom Condensed Soup — 2 cans
  • Lidl Cut Green Beans — 2 cans
  • Lidl Evaporated Milk
  • Fresh Sweet Potatoes — 3 lbs.
  • French's French Fried Onions
  • Lidl Original Whipped Topping
  • Lidl Brown Gravy Mix — 2 packets
  • Lidl Jellied Cranberry Sauce — 2 cans
  • Lidl Mini Marshmallows
  • Lidl Pie Crust Dough
  • Lidl Hawaiian Sweet Rolls
  • Lidl Poultry Seasoning
  • Lidl Turkey Stuffing Mix — 2 boxes
  • Fresh Peak Harvest Baby Carrots — 2 lbs.
  • Lidl Macaroni & Cheese — 2 boxes

Total cost: $35.86 for 10 people.

Aldi — $3.90
The exterior of an Aldi grocery store

Al Drago/Getty Images

  • Whole Turkey
  • Chef's Cupboard Stuffing Mix (x3)
  • Baby Peeled Carrots
  • Celery
  • Cranberries (12 oz)
  • Sweet Potatoes (3lbs)
  • L'oven Fresh Hawaiian Sweet Rolls
  • Season's Choice Steamable Frozen Peas (x2)
  • Baker's Corner Pumpkin Pie Mix
  • Bake House Creations Pie Crusts
  • Friendly Farms Whole Milk
  • Friendly Farms Heavy Whipping Cream

Total cost: $39 for 10 people.

Target — $5
Large red Target logo and storefront sign stand beside palm trees and pedestrians on a sunny sidewalk.
LOS ANGELES, CALIFORNIA - AUGUST 19: The Target logo is displayed outside a Target store on August 19, 2026 in Los Angeles, California. Target shares rose 5% to a 52-week high after the company reported better-than-expected second-quarter earnings, with comparable sales rising 3.8% and net income more than doubling to $1.87 billion, boosted in part by a $994 million tariff refund. The retailer also raised its full-year outlook. (Photo by Justin Sullivan/Getty Images)

Justin Sullivan/Getty Images

  • Butterball turkey, up to 10 lb.
  • Russet potatoes, 3 lb. bag
  • Ocean Spray Cranberry Sauce, 14 oz.
  • Del Monte French Style Green Beans, two 14.5 oz cans
  • Campbell's Condensed Cream of Mushroom Soup, 10.5 oz
  • Good & Gather French Fried Onions, 6 oz
  • Stove Top Stuffing Mix for Turkey, 6 oz.
  • Heinz Homestyle Turkey Gravy, 12 oz.
  • Favorite Day Take & Bake Baguette, two count

Total cost: $30 for 6 people.

Sam's Club — $10
Sam's Club storefront with shoppers, carts, and parked vehicles outside the entrance.
PEORIA, ARIZONA - FEBRUARY 22: A Sam's Club warehouse store on February 22, 2025 in Peoria, Arizona. (Photo by Kevin Carter/Getty Images)

Kevin Carter/Getty Images

  • Boneless carver ham
  • Hickory smoked turkey
  • Yukon Gold mashed potatoes
  • Turkey gravy
  • Green beans with dried cranberries and almonds (x2)
  • Macaroni and cheese (x2)
  • Sweet corn with garlic butter
  • Cranberry crunch salad
  • Yeast dinner rolls
  • Charcuterie entertainment tray
  • 12" pumpkin pies (x2)

Total cost: $160 for 16 people.

Albertsons — $11
Albertsons storefront with logo above the entrance, parked cars, trees, and a Drive Up sign in front.
SAN MARCOS, CALIFORNIA - DECEMBER 10: Food Shoppers Enter An Albertsons Grocery Store In San Marcos, CA on December 10, 2025 in San Marcos, California. (Photo by Joe Scarnici/Getty Images for Albertsons Companies)

Joe Scarnici/Getty Images for Albertsons Companies

  • Fully cooked 10 to 12 lb turkey
  • 32 oz mashed potatoes
  • 28 oz homestyle stuffing
  • 24 oz gravy
  • 14 oz cranberry sauce
  • 12-count package of King's Hawaiian Rolls.

Total cost: $90 for 8 people, only available online with pre-order.

Costco — $25
Shoppers push carts outside a Costco Wholesale warehouse entrance with large red and blue storefront signage.
BAYONNE, NJ - OCTOBER 2: People walk out of a Costco Wholesale store with a shopping cart of goods on October 2, 2026, in Bayonne, New Jersey. (Photo by Gary Hershorn/Getty Images)

Gary Hershorn/Getty Images

  • 5 lbs. Free Range Amish Turkey Breast
  • 3 lbs. Tray of Mashed Potatoes
  • 24 oz. Turkey Gravy
  • 3 lbs. Tray of Mac and Cheese
  • 3 lbs. Tray of Sweet Corn
  • 3 lbs. Tray of Green Bean Casserole
  • 2 lbs. Candied Yams
  • 3 lbs. Tray of Cornbread Stuffing
  • 20 oz. Pack of Cranberry Relish
  • 12 Gourmet Dinner Rolls
  • 2 lbs. Tray of Apple Cobbler
  • 2 lbs. Whole Pumpkin Pie

Total cost: $200 for 8 people, only available online with pre-order.

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Sweetgreen is going to pay its top store managers more than $200K a year

Sweetgreen storefront with sidewalk dining tables and several patrons seated outside on a city street.
Sweetgreen is rolling out a new pay and incentive plan for 2027.

Heather Diehl/Getty Images

  • Sweetgreen just rolled out a new incentive and compensation plan for restaurant managers.
  • A higher base salary and new revenue-share bonus could push top performers above $200,000.
  • "As we approach 300 restaurants, we're betting big on our Head Coaches," CEO Jonathan Neman said.

Sweetgreen restaurant managers are about to see some more sweet green.

The salad bowl chain said Tuesday it is rolling out a new compensation and incentive plan for the new year that would raise annual pay for managers of high-performing locations to more than $200,000.

"This sets Sweetgreen up to be in the top tier of restaurants for total compensation for general managers," chief operating officer Jason Cochran told Business Insider. "Our ability to be able to attract, retain, and also inspire many of our internal team members to want to be head coaches — I think it's going to be meaningful for many years to come."

Managers need to have at least three years on the job to be eligible for the highest pay bands, and a new revenue-share bonus will directly reward leaders when their location beats it sales goals, the company said. Managers may also receive shares of Sweetgreen stock based on their performance.

Cochran said the typical tenure of restaurant managers ranges from three months to 10 years, and that store teams consist of about 25 to 50 employees.

"One of the shift leads was telling me they heard the news and how excited they were for their career at Sweetgreen," he said. "She's been with us six years."

The company also said the changes at the top are part of a larger push to improve talent retention and training within the chain.

"Great leaders build great teams, and great teams build a great business. As we approach 300 restaurants, we're betting big on our Head Coaches," co-founder and CEO Jonathan Nemen said in a statement. "The restaurant industry has always been one of the great engines of opportunity, and we want to make that real for thousands of people."

Read the original article on Business Insider
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Target has added another red to its palette

Target store interior with a circular candy display, bright shelving, large red ceiling fixture, and a “soho” sign.
Store fixtures and a Target logo in the company's SoHo location feature the brands new Cherry Stain shade.

Dominick Reuter/Business Insider

  • Major brands put a lot of care into choosing a defining color — for Target it's Pantone 186.
  • But a shade that works in one context might not suit all situations.
  • Target told BI it adopted a shade called "Cherry Stain" for when the bullseye red is a bit hot.

Target takes its colors very seriously.

The retailer's iconic red, also known as Pantone 186, is a vibrant, highly saturated shade that makes its bullseye logo stand out in a crowd. It's a color that catches the eye on subway platforms and suburban shopping centers alike.

A new employee-only line of apparel, designed in collaboration with Isaac Mizrahi, is dubbed Collection 186. And two decades ago, Target bought all the ad space in an issue of The New Yorker and asked the magazine's illustrators to work only in black, white, and red.

But when Target remodeled its SoHo location in New York last year, using the trademark red for nearly every element of the store's entrance proved to be a bit much.

"It was just a little too overpowering, so our design team brought in this color that we're now calling Cherry Stain to kind of help balance out all of the red," Target's chief brand officer Michelle Mesenburg told Business Insider during an exclusive store tour last week. "It has now become part of our IP color palette at Target."

While the new Cherry Stain color appears on several fixtures in the SoHo store, it is more prominently seen as the official shade of the newly launched Beauty Studio department, which the retailer is rolling out in stores this year.

It's a calmer, more inviting hue that both complements the primary red and serves as an alternative when the bullseye shade might come off a bit too hot.

The company is now using the shade in more contexts, including some Target logos that now appear as a combination of the Pantone 186 and the new Cherry Stain, rather than the traditional red and white.

"It's a fresh chapter," Mesenburg said. "We're pulling elements of what we're learning here [in SoHo]. It may not translate exactly one-for-one, but the influence is coming into the full chain."

Read the original article on Business Insider
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FTC lawsuit accuses Dollar General of deceptive pricing and overcharging customers

Dollar store aisle shelf sign advertises $1 deals beside orange packaged goods as a shopper pushes a cart nearby.
A one-dollar deals sign is displayed at a Dollar General discount store in California.

Patrick T. Fallon / AFP via Getty Images

  • The FTC and 20 US states are suing Dollar General over its pricing practices.
  • A complaint filed Monday alleges the company repeatedly mislabeled products and overcharged customers.
  • Dollar General said it will defend the lawsuit while remaining open to discussing a resolution.

Dollar General is facing fresh federal scrutiny over its pricing practices.

The US Federal Trade Commission said Monday it has filed a lawsuit, along with 20 states, accusing the discount retailer of deceptive pricing on its shelves, price tags, and advertisements.

"Dollar General has, for years, repeatedly mislabeled prices, overcharged consumers and failed to correct the issue despite extensive corporate knowledge of the problem," the FTC said in a statement.

The company operates more than 21,000 US stores and typically serves customers in more rural and low-income areas of the country.

The filings say Dollar General has received tens of thousands of complaints from shoppers who said they did not receive an advertised price and that the company failed to adequately address the problem.

As a result, Dollar General received millions of dollars from overcharging customers, the FTC alleged.

In a statement, Dollar General said it will defend the lawsuit while remaining open to discussing a resolution.

"The lawsuit filed today by the Federal Trade Commission and several States suggests that we have abandoned our mission and willfully disregarded the affordability needs of our customers. Nothing could be further from the truth," the statement said.

Dollar General said its goal is accuracy between shelf and register prices. When discrepancies occur, store teams are expected to make things right for customers.

The company said it cooperated with the investigation since February, producing documents, data, and testimony. The FTC and the company had exchanged potential remedies when the lawsuit was filed, the company said.

The action comes less than two weeks after New York Attorney General Letitia James reached a settlement of nearly $1.9 million in food and personal items as a civil penalty for overcharging shoppers in the state. New York did not join the FTC's complaint.

US consumers have been particularly worried about fairness in retail pricing as more stores introduce digital price tags. Both Walmart and Target have issued public statements promising price transparency and consistency online and at the register. Home Depot recently did the same.

Read the original article on Business Insider

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Verizon says SpaceX needs up to 8 years and a half trillion dollars to compete in wireless

Pedestrians pass a Verizon storefront window with a large red logo and a digital display showing a red robot.
Verizon's CEO says SpaceX's Starlink faces some significant technical and financial hurdles to compete at scale in the US.

Zamek/GVN/VIEW press/Corbis via Getty Images

  • Verizon's CEO says he assumes SpaceX will flawlessly execute its US ambitions — but he's not worried.
  • In order for Starlink to compete, it will still need a lot of land-based infrastructure.
  • That building could require SpaceX to spend a half trillion dollars over up to eight years, he said.

In business, as in war, the safest bet is often to avoid underestimating your competitors, even when the odds appear to be in your favor.

Verizon CEO Dan Schulman says he's a student of that philosophy when it comes to Elon Musk's ambitions to develop SpaceX's Starlink into a significant US network player.

"Clearly, the tech and the wireless landscape is rapidly evolving, and we need to rapidly evolve along with that," he said during the company's third-quarter earnings call Monday. "I also operate under the assumption that everything SpaceX says they will do, they will do, and that they will execute flawlessly."

Setting aside Musk's track record of delivering on his eyebrow-raising promises, Schulman said there are significant technical and financial hurdles that Starlink would have to clear to meaningfully compete with established networks like Verizon. But it is possible.

"If they build a terrestrial network, it will basically look and feel like every other network," he said. "I think we should take it quite seriously."

News earlier this month that Starlink had acquired a batch of mobile-friendly low-band spectrum sent the share prices of the major US mobile carriers falling by approximately 10%. Verizon is the only one of the three to partially recover from the drop.

"Their service just can't compete with a terrestrial network in suburban and urban areas, where like 98% of our revenues are," he said of the satellite-based system. "We're somewhere between 100 to 1000 times more efficient than they are."

Building a competitive US network, especially for mobile, would require building as many as 80,000 large cell towers on Earth linked with some combination of satellites and fiber optics, Schulman said.

Schulman estimates that project would cost up to a half trillion dollars over six to eight years, with a minimum of four to six years to actually build out the network.

"Then they need to build retail customer service, back office systems, et cetera., and all of that gets them basically the same network and same capabilities and same cost structure as what we have today," Schulman said.

After the call, Musk responded to the forecast with a post on X: "Will take 2 or 3 years."

The Verizon chief's remarks come less than a week after his AT&T counterpart, John Stankey, brushed off concerns that Starlink's mobile network could pose a threat to his business.

"I wouldn't over-rotate on what I would call one carrier of low band spectrum," he said.

Read the original article on Business Insider
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Target is turning the holiday marathon into a series of sprints

Colorful retail store interior with clothing racks, home goods displays, hair care shelves, and green built-in fixtures.
The early holiday section at Target's recently revamped SoHo store.

Dominick Reuter/Business Insider

  • The holiday shopping season keeps starting earlier and earlier.
  • Target has struggled in recent years to keep the momentum going to the end.
  • This year's strategy leans harder into the micro-season trend, with a big push in the home stretch.

The holiday shopping season keeps creeping earlier on the calendar, and that head start can come at the expense of the final stretch.

After weeks of crowds, big-box stores in the week before Christmas can be left with picked-over shelves. This year, as part of CEO Michael Fiddelke's turnaround effort, Target is shifting from a marathon mentality to a series of sprints intended to help the retailer finish strong.

Target's US stores will kick off the holiday season with a major reset in the first week of November, followed by another overhaul in the first week of December after Black Friday.

But the team isn't stopping there.

For the home stretch, Target is picking up the pace with a new micro-season intended to carry the energy through the final 10 days before Christmas.

Target holiday gift display with red shopping carts, wrapped presents, toys, and checkout counter under bright store lighting.
Some of the toys that Target will be selling this holiday season.

Dominick Reuter/Business Insider

"Decorating your home is done, then you start going to gift-giving," Target's chief merchandising officer Cara Sylvester told reporters at a preview event in New York last week. "The entire back of the store will be transformed into what we're calling Christmas Morning Magic."

That means this year, instead of seeing leftover string lights and stockings in the seasonal section, Sylvester said the zone will be flooded with fresh stocking stuffers priced from $3 to $20.

Target is, of course, not the only retailer to struggle with late-season momentum that can leave last-minute shoppers in the lurch, but Fiddelke has focused on faster cadence to win back shoppers.

Mannequins in matching holiday pajamas stand beside decorated Christmas trees in a festive retail display.

Dominick Reuter/Business Insider

"The holiday season is such a culmination of what the team has been hard at work on all year," he said at the briefing. "It's a hectic time of year."

Target's chief brand officer Michelle Mesenburg told Business Insider that the company is taking a lot of cues from its recently revamped concept store in New York's SoHo shopping district.

Starting early and turning items over more quickly has been a successful strategy at the SoHo store, she said, as well as a flexible approach to fixtures that keep the store looking fresh through several episodes of a longer season. Now the company is looking to put that philosophy into practice nationwide this holiday.

Read the original article on Business Insider

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Companies laying off staff this year include Meta, Amazon, and Dropbox — see the list

A Verizon store in New York.
Verizon is one of the latest companies to announce job cuts.

Bloomberg/Getty Images

  • Companies including Meta, Amazon, and Visa have said they're trimming staff this year.
  • Many firms, like Wix and Block, have cited the rise of AI as a reason they need fewer staff.
  • See the list of companies letting workers go in 2026.

Big companies are still cutting jobs in 2026.

So far this year, dozens of major brands have laid off employees, continuing a trend of significant workforce reductions across a broad range of industries, including tech, media, finance, and retail.

While prominent brands continue to announce cuts, the broader economy shows that unemployment hasn't spiked. Economists frequently describe the environment as low-fire, low-hire.

The big change is AI.

Several companies, including Block, Coinbase, and Standard Chartered, have cited the impact of artificial intelligence as a key reason for the layoffs.

A World Economic Forum survey last year found that some 41% of companies worldwide expected to reduce their workforces in the next five years because of the rise of artificial intelligence. The survey also found that jobs in big data, fintech, and AI are expected to double by 2030.

Last year, Business Insider tracked layoffs at around 65 major companies, including Amazon, Meta, Paramount, and Starbucks. In 2026, we'll continue to track additional job cuts based on company announcements, WARN notices, and our own reporting.

Here are the companies with job cuts underway in 2026, listed in alphabetical order.

Amazon is laying off thousands of employees
Amazon sign

Matthias Balk/picture alliance via Getty Images

Amazon said in January that it would eliminate around 16,000 corporate roles globally.

Beth Galetti, senior vice president of people experience and technology, described the January move in a company memo as part of broader efforts to cut back on bureaucracy inside the company.

The cuts followed mass layoffs from October 2025, when the tech and retail giant shed 14,000 roles.

In May, Amazon's Selling Partner Services team slashed additional jobs as it continued to reshape its organization.

"Following a recent review, we've made the difficult decision to eliminate a relatively small number of roles in our Selling Partner Services team," a spokesperson told Business Insider.

American Express is cutting 5% of its workforce
American multinational financial services corporation American Express logo seen in its Centurion Lounge at Hong Kong International Airport.
Amex is planning cuts as it prepares for AI to help run its internal systems.

Alex Tai/SOPA Images/LightRocket via Getty Images

American Express took a $336 million restructuring charge as it plans to cut around 5% of its workforce, the company announced during its third-quarter earnings call.

It employed around 77,000 people by the end of 2025, meaning the layoffs could impact between 3,000 and 4,000 employees.

On the earnings call, the company also highlighted how AI has changed its internal structure.

"There's been a lot of talk about how companies are using AI to increase productivity, automate processes, and generally make their organizations more efficient," Stephen Squeri, Amex's CEO, said during an October earnings call. "We're using AI to do all of those things too."

Angi is cutting 350 jobs
An Angie's List printed publication for 2021 sits on a stack of magazines and other printed materials.

Donald King/AP

Angi, the popular contractor listing site once known as Angie's List, said in January that it was cutting around 350 jobs "to reduce operating expenses and optimize the organizational structure in support of long-term growth." The company also said it's making the cuts "in light of AI-driven efficiency improvements."

In a January 7 SEC filing, Angi said that the cuts would save between $70 million and $80 million in annual spending. The layoffs will cost the company between $22 million and $30 million, according to the filing.

Atlassian is cutting 1,600 employees
Atlassian
Atlassian

Thomas Fuller/SOPA Images/LightRocket via Getty Images

Atlassian, the enterprise software company and maker of Confluence, said on March 11 that it will be cutting about 10% of its workforce as it invests in AI to reshape its organization.

CEO Mike Cannon-Brookes said in a statement that about 1,600 employees will be affected by the cuts.

"We fundamentally believe people and AI create the best outcomes. Our approach is not 'AI replaces people,'" Cannon-Brookes said. "But it would be disingenuous to pretend AI doesn't change the mix of skills we need or the number of roles required in certain areas. It does."

The company expects to incur $225 million and $236 million in restructuring charges, according to an SEC filing.

Barclays cuts 5,000 jobs
NEW YORK, NEW YORK OCTOBER 21: People pass by Barclays PLC (BCS) headquarters on October 21, 2026. in New York City. Barclays shares (BCS) have gained approximately 218.5% over the past three years, as investors assess whether the bank's earnings justify its share price. (Photo by KHemaz/GVN via Getty Images)

KHemaz/GVN via Getty Images

Barclays, the British financial institution, disclosed plans to cut around 5% of its workforce.

Anna Cross, the Group Finance Director of Barclays, said on an October 22 earnings call that the company expects more than GBP 1 billion in efficiency savings in 2027, which will involve reducing its head count by 5,000 full-time employees.

Cross said that 60% of affected workers are related to "support functions, including fewer developers as AI makes our people more productive."

The company reported Q3 pretax profit of GBP 2.3 billion — about $3 billion — up 12% from the same quarter a year earlier.

Barclays CEO, C.S. Venkatakrishnan, said that the company is moving to "drive even greater cost efficiency through deep technological transformation, reducing the unit cost of product, manufacturing, service and innovation."

British American Tobacco cuts 9,000 jobs
The logo of company British American Tobacco is displayed on a smartphone in front of abstract background on tablet screen.

Illustration by Timon Schneider/SOPA Images/LightRocket via Getty Images

British American Tobacco said it will cut 9,000 jobs by the end of the year, about one-fifth of its workforce. The cuts will not impact the US arm of its business.

"We are building a future-ready organisation that is more agile, cost disciplined and technology enabled," CEO Tadeu Marroco said in the statement.

The company, whose cigarette portfolio includes brands like Lucky Strike and Dunhill, has stepped up its push in recent years into smoke-free alternatives, such as nicotine pouches and vapes.

Citi's job cuts continue this year
Citibank logo
Citibank will continue to cut jobs in 2026.

Kevin Carter/Getty Images

Citi will cut more jobs this year as part of its plan to reduce its workforce by 10%, or 20,000 employees.

In a statement on January 13, the bank said that it will continue to reduce head count in 2026.

"These changes reflect adjustments we're making to ensure our staffing levels, locations and expertise align with current business needs," a spokesperson for Citi said.

The plan was detailed in the company's January 2024 earnings report and could save the bank as much as $2.5 billion.

Cloudflare lays off 20% of its global workforce
This photograph taken on January 21, 2026 shows signage of the Cloudflare logo during the World Economic Forum (WEF) annual meeting in Davos. The World Economic Forum takes place in Davos from January 19 to January 23, 2026. (Photo by INA FASSBENDER / AFP via Getty Images)

INA FASSBENDER / AFP via Getty Images

Cybersecurity company Cloudflare on May 7 said it plans to cut roughly 20% of its global workforce, affecting more than 1,100 employees.

In an internal memo, Cloudflare executives said the company's use of AI has climbed more than 600% over the past three months, and that the rapid shift has forced the company to reconsider its structure.

"We want to be clear that this decision is not a reflection of the individual work or talent of those leaving us," Cloudflare executives wrote in the May 7 memo. "Instead, we are reimagining every internal process, team, and role across the company."

The company's shares fell more than 14% in extended trading following the announcement.

Coinbase is cutting 14% of staff
Coinbase CEO Brian Armstrong
Coinbase CEO Brian Armstrong.

Bloomberg/Getty Images

The CEO of Coinbase, Brian Armstrong, said in a letter to staff on May 5 that 14% of its staff would be cut, largely because of AI.

"AI is changing how we work. Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks," wrote. "The pace of what's possible with a small, focused team has changed dramatically, and it's accelerating every day."

Armstrong said this would mean fewer layers and faster decisions in the company. No pure managers, he said — all leaders will now be required to get stuck in and "get their hands dirty."

"AI is bringing a profound shift in how companies operate, and we're reshaping Coinbase to lead in this new era," he added.

Crypto.com laid off 12% of its workforce
Crypto.com CEO Kris Marszalek is pictured.

Marco Bello/Reuters

Crypto.com CEO Kris Marszalek said in March that the company laid off 12% of its workforce, including "roles that do not adapt in our new world."

"Companies that move immediately and pair the best AI tools with top-performers will achieve a level of scale and precision that was previously impossible," Marszalek wrote in a post on X. "This is where we must go."

Dell cut 10% of its workforce
Dell logos

Michel Porro/Getty Images

Dell cut its workforce by 10% for the third year in a row, the company said in its annual filing with the SEC.

As of January 31, 2026, the company had 97,000 employees, down 11,000 from the same time last year. The decline includes both layoffs and attrition, Business Insider reported.

eBay is expected to lay off 6% of its employees
eBay app

Thomas Fuller/NurPhoto via Getty Images

eBay is set to eliminate about 800 jobs globally, making up 6% of its workforce. The company told Business Insider that it's taking steps to better align with its strategic priorities.

"We are grateful for the contributions of the employees impacted and are committed to supporting them with care and respect," a company spokesperson said in a statement.

Epic Games is cutting 20% of its workforce
Man in suit
Tim Sweeney, CEO of Epic Games

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Epic Games, the company behind Fortnite, said in March that it would lay off more than 1,000 people — about 20% of its workforce — as engagement with the game declined.

CEO Tim Sweeney said in a memo that the layoffs "aren't related to AI."

"To the extent it improves productivity, we want to have as many awesome developers developing great content and tech as we can," Sweeney said.

Estée Lauder is deepening its cuts, now to as many as 10,000 roles
Shoppers gather at an Estée Lauder store at the Sanya International Duty Free Shopping Complex, also known as CDF Mall, on March 5, 2026 in Sanya, Hainan Province, China.

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Estée Lauder said in its May earnings report that it will deepen its previously announced cuts, which are now expected to affect up to 10,000 jobs.

More than two-thirds of the reductions are in cashier and demonstration roles at lower-performing retail and department stores.

Etsy
Etsy logo
Etsy announced on Wednesday that it was laying off 220 employees.

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Etsy said August 5 that it is laying off about 220 employees, roughly 12% of its workforce.

"We will be saying goodbye to approximately 220 colleagues across the company, with most of the changes concentrated in Product & Engineering," the company's CEO, Kruti Patel Goyal, told staffers in a memo.

The company also reported its second-quarter financial results on Wednesday.

While Goyal's memo made no mention of AI or its potential threat to jobs, she said that the cuts were a preemptive move.

"The answer is that today's decisions aren't a reflection of this quarter or even this year, but of where Etsy needs to go next," she wrote.

Expedia laid off some employees
Expedia Group
Expedia said it was cutting some roles but the scope of the cuts was unclear.

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Expedia confirmed to Business Insider that it had laid off some employees on January 26 and had also posted new job openings. It's unclear how many of its workers were affected by the cuts.

"We are eliminating roles as well as opening some new roles as we remain disciplined about assessing the skills we need for the future," an Expedia Group spokesperson said in a statement. "We are also simplifying our structure and reducing organizational layers to move faster and with more accountability. These are not easy decisions, and we are grateful for the contributions of our colleagues who are impacted."

Freshworks is cutting 11% of staff
Freshworks app
Freshworks is cutting staff

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The San Mateo, California-based software company said in its early May earnings report that it would cut 11% of its staff in the second quarter. The company had about 4,500 employees at the end of 2025.

The cuts aim "to streamline the Company's organizational efforts and product development process" and increase AI across the company, according to the filing.

On an earnings call, CEO Dennis Woodside said about half the company's code comes from AI.

"Like many other software companies, that is definitely changing how we build products, how fast we can build products, and the amount of people that we need to build products," he said.

The company's stock slumped 35% from May 2025 to May 2026.

General Motors is axing 600 salaried employees
Workers in the automobile assembly production line at SAIC General Motors Dongyue Base in HuangBohai New Area in Yantai, Shandong, China in April 2026
GM is overhauling its tech workforce to prioritize AI and software expertise.

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General Motors is cutting 600 salaried employees from its global IT division.

A spokesperson said the layoffs would enable it to "better position the company for the future," by ensuring GM has employees with expertise in AI-native development, data engineering, analytics, cloud engineering, prompt engineering, and AI workflows.

GoPro is laying off 145 employees
GoPro logo
GoPro is cutting 23% of its staff to cut costs.

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On April 7, GoPro said it would lay off about 145 employees as it tries to cut operating costs and restructure operations.

The layoffs make up 23% of its global headcount of 631 employees, the camera maker said in a regulatory filing.

The cuts will start in the second quarter of the year and will largely be completed by the end of 2026. The restructuring is expected to result in a charge of $11.5 million to $15 million.

The company cut about 15% of its staff in August 2024 to cut costs.

Groupon is reducing up to 400 positions globally
Groupon app

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Groupon said on May 21 that it would cut up to 400 roles globally as part of a restructuring plan, according to a financial filing. It previously said it planned to rebuild as an "AI-native company."

The cuts are expected to happen by the end of the third quarter of 2026. Groupon is looking to generate $10 million to $12 million in gross savings in 2026.

"Up to half of this year's savings will be reinvested into AI infrastructure, talent density, and the tools and teams building the next version of the company," a spokesperson told Business Insider.

Groupon had 1,734 employees worldwide at the end of 2025, according to its annual report.

Heineken has a multi-year plan to reduce its workforce
Heineken logo on building with autumnal trees in front of it.

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Heineken is cutting 5,000 to 6,000 roles over the next two years to boost productivity and bring down costs, according to its latest full-year earnings report.

The company told Business Insider that the divisions and regions where the layoffs are due to take place are yet to be confirmed.

Heineken said in its 2025 report that it faced "subdued consumer sentiment" in the Americas, alongside a "challenging year" for brewers in Europe.

Intuit is laying off 17% of its workforce
In this photo illustration, a person holds a smartphone displaying the logo of Intuit Inc.
Intuit said it's laying off 17% of its workforce.

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Financial software company Intuit announced on May 20 that it would be cutting 17% of its full-time workforce.

The company shared a memo from CEO Sasan Goodarzi to employees that listed five reasons for the culling, including reducing management layers, focusing roles on "high impact work," and closing down two of its offices.

"These changes are a necessary evolution to reduce complexity and architect an organization that operates with the velocity required to fuel our growth engines," Goodarzi wrote in the memo, shared in a blog post on Intuit's website.

Laid-off employees in the US would receive 16 weeks of base pay, plus two additional weeks of pay for every year they have worked at Intuit.

The company said in a May 20 earnings report that restructuring costs from the layoffs would be about $300 million to $340 million.

Kenvue cuts 3.5% of workforce
Tylenol acetaminophen caplets are displayed for sale at a Costco Wholesale store on November 13, 2025 in Simi Valley, California.
Kenvue will be laying off 3.5% of its workforce.

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Consumer healthcare brand Kenvue, which produces Tylenol, plans to cut 3.5% of its staff. Kenvue had about 22,000 employees globally, per its latest annual report.

The company wrote in a mid-February SEC filing that its board aimed to reduce complexity and drive operational efficiencies.

The company's layoffs and restructuring efforts are expected to cost $250 million in 2026, per the filing.

LinkedIn is laying off staff and 'scale back' other investments
LinkedIn logo

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LinkedIn CEO Daniel Shapero told employees on May 13 that it was laying off employees, and those in affected roles would receive a calendar invite. The jobs included positions in the Microsoft-owned company's Global Business Organization, marketing, engineering, and product teams.

"We need to reinvent how we work, with agile teams focused on our highest priorities, and by shifting investments toward areas such as infrastructure to fulfill our mission and vision over the long term," Shapero said in the memo.

Shapero also said LinkedIn would "scale back" investments in areas like marketing campaigns, customer events, and underutilized office space.

Lululemon laid off 100 part-time employees at its customer service center
Lululemon store

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The athleisure giant said it laid off 100 part-time employees to "strengthen the business." The affected roles are in the company's North American contact center.

"After careful consideration, we have made the decision to transition our North America GEC to a full-time employee staffing model. As a result, approximately 100 part-time positions in our GEC have been impacted," a Lululemon spokesperson said.

Meta lays off workers at Reality Labs and other divisions
The Meta Quest 3s, the standalone virtual reality headset developed by Reality Labs, a subdivision of the American company Meta Platforms, is exhibited at the Qualcomm pavilion during the Mobile World Congress 2025 in Barcelona, Spain, on March 5, 2025. (Photo by Joan Cros/NurPhoto via Getty Images)

Joan Cros/NurPhoto via Getty Images

Meta began laying off employees across multiple teams on March 25, including Reality Labs, Facebook, recruiting, sales, and global operations.

The cuts come as the company ramps up spending on AI infrastructure and talent, alongside broader cost-cutting efforts. Meta said the changes are part of ongoing restructuring to better align teams with company goals, while exploring other roles for affected employees where possible.

Meta first began preparing to slash jobs within its Reality Labs division, the unit responsible for Mark Zuckerberg's metaverse ambitions, in January, three people familiar with the matter told Business Insider at the time.

Two employees said that teams working on virtual reality headsets and Horizon Worlds, the company's VR social network, would be disproportionately affected.

Meta has shifted away from virtual reality in recent years in favor of spending hundreds of billions of dollars on beefing up its AI capabilities.

Nike laid off workers in two rounds
Nike logo on wall

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Nike is cutting roughly 1,400 jobs, mostly from tech, as part of a broader push to streamline operations and revive growth.

In a memo to staff on April 23 obtained by Business Insider, Chief Operating Officer Venkatesh Alagirisamy said the layoffs are tied to the company's "win now" turnaround plan, which focuses on improving culture, product, marketing, marketplace strategy, and in-person retail. He described the effort as entering its "final stretch."

This is Nike's second layoff in 2026. Nike said on January 26 that it planned to lay off 775 employees across Tennessee and Mississippi, citing efforts to "streamline" its distribution center operations.

"We are sharpening our supply chain footprint, accelerating the use of advanced technology and automation, and investing in the skills our teams need for the future," Nike said in a statement to Business Insider.

Oracle's headcount fell 13% in a year
Oracle signage near the company's offices in Redwood City, California, US.

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Oracle's workforce shrank by roughly 21,000 employees, or 13%, over the past year, bringing its headcount to 141,000 as of May 31, according to a 10-K filing released on June 22.

"The adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce," Oracle wrote in the filing.

Oracle also disclosed that restructuring costs surged in fiscal 2026. The company spent $1.84 billion on severance and other exit costs, up from $374 million in the prior year.

The reduction in workforce comes as Oracle continues to invest heavily in AI infrastructure.

Papa Johns is restructuring
A Papa Johns location in Texas
Papa Johns said it will be closing 300 stores over the next two years, including 200 in 2026.

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Papa Johns said it is laying off 7% of its corporate staff amid a broader restructuring.

The pizza chain said it will also close 300 locations in North America through 2027, starting with 200 this year.

"Optimizing our restaurant portfolio and strategically closing underperforming restaurants are among the most impactful actions we can take to improve restaurant profitability and fleet health," Papa Johns CFO Ravi Thanawala said during the company's fourth quarter earnings call on February 26.

Patreon, a creator economy company, laid off 20% of staff in July
Patreon

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Patreon announced layoffs in July.

The creator economy company is laying off 93 employees — roughly 20% of the company — per a memo its CEO, Jack Conte, shared publicly.

Conte wrote that the "market in which we operate has undergone profound change over the last 6 months," and that Patreon needs to cut costs to "remain a stable, dependable rock for our creators."

Pinterest is expected to lay off 15% of its workforce
Pinterest sign

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Pinterest announced a global restructuring plan that includes layoffs affecting less than 15% of its workforce, according to a January securities filing. The cuts come with reductions in office space.

"We are making organizational changes to further deliver on our AI-forward strategy, which includes hiring AI-proficient talent," a Pinterest spokesperson said.

"As a result, we've made the difficult decision to say goodbye to some of our team members. We are grateful for their service and supporting them with separation packages and benefits," they added.

Saks laid off 16% of its corporate staff, among other job cuts
Saks sign

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Saks Global, the beleaguered parent company of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, conducted several rounds of layoffs as it closed stores and trimmed its corporate staff

In April, the company cut about 16% of its corporate staff, representing less than 4% of its total workforce.

"Following the strategic actions we've taken to secure long-term financial stability, sharpen our focus on luxury and full-price selling, optimize our operational footprint, and exit non-core businesses, we are right-sizing our corporate organization to align with our go-forward strategy," a Saks spokesperson told Business Insider.

The cuts followed Saks's closure of dozens of stores and fulfillment centers in the first quarter, resulting in layoffs.

Saks filed for Chapter 11 bankruptcy in January.

Sprout Social cut 20% of staff — about 260 employees
The Sprout Social logo appears on a phone screen.
Sprout Social announced plans to lay off about 260 employees, or about 20% of its staff, citing rapid changes in the industry driven by AI.

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Sprout Social — a social media management program — announced on July 15 that it will cut 260 jobs, or about 20% of its workforce.

In a letter about the reduction in force, CEO Ryan Barretto said the cuts were due to rapid industry changes.

"This decision is not a reflection of their talent or commitment," Barrett said. "We made this decision because we believe it was the right one for Sprout's future. Our industry, and software more broadly, is changing quickly, and the way companies need to operate and invest has changed with it."

Affected staff will be offered a 12-week severance package, plus an additional week of pay for every year of tenure, fully-paid health benefits for six months, and a cash payment equal to the value of their equity shares that would have vested in the next 90 days.

Standard Chartered plans to eliminate 15% of corporate functions over the next 4 years
Standard Charteres sign

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Standard Chartered plans to cut 15% of corporate function roles over the next four years, the company said on May 19.

The bank, headquartered in London, credited AI as a driver for the reductions.

"It is not cost-cutting, but it is replacing, in some cases, lower-value human capital with the financial capital and the investment capital that we are putting in," CEO Bill Winters said in a media briefing, Reuters reported.

The company added in a statement: "We are combining the best human talent with AI, investing to support our people into higher-value roles."

T-Mobile cut some jobs
T-Mobile store

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T-Mobile cut some staff in early 2026, though the scope of the layoffs is unclear. Some workers posted on LinkedIn saying they'd been affected by the changes in January.

"As the next step in our evolution, we're making some changes while continuing to hire to ensure we have the right focus, structure, and momentum to keep changing the industry through innovation and our long-standing focus on customers," T-Mobile told Business Insider in a statement.

Tailwind cut 3 of its 4 engineers
Typing on computer screen

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Tailwind, a popular web tool, said it cut three of its four engineers in January, citing an AI-driven decline in revenue.

"75% of the people on our engineering team lost their jobs here yesterday because of the brutal impact AI has had on our business," CEO Adam Wathan wrote in a GitHub comment on January 6 that made waves in the tech community.

Target is cutting 500 roles from its distribution and regional offices
Inbound trucks are unloaded at the loading docks.
Inside a Target regional distribution center in Wisconsin.

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Target confirmed to Business Insider in February that it would cut 100 district office roles and 400 supply chain positions. It plans to invest instead in additional labor hours at stores to improve the shopping experience and return to growth.

The store improvement effort is a signature priority of the retailer's new CEO, Michael Fiddelke, who started on February 1.

In November, Fiddelke said the company intends to invest an additional $1 billion in capital expenditures for 2026, an increase of 25% from 2025.

TikTok lays off 250 employees
A phone with the logo of the TikTok app lies on an open book
A phone with the logo of the TikTok app lies on an open book

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TikTok is laying off 250 employees and closing an office in Nashville, according to documents filed with the Department of Labor and Workforce Development in Tennessee.

A spokesperson for TikTok US Data Security, a joint venture established in January 2026 to oversee TikTok's US operations, said closing the office will "streamline our operations and better align our teams for long-term growth."

The Nashville office will close in October, according to the documents.

UPS said it will eliminate 30,000 jobs
A dark brown UPS truck sits parked on a street as steam rises from a manhole next to it and a pedestrian walks by on the sidewalk wearing headphones and holding a smartphone.

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UPS CEO Brian Dykes told analysts during the company's fourth-quarter earnings call that the company plans to reduce its operational workforce by 30,000 in 2026.

"This will be accomplished through attrition, and we expect to offer a second voluntary separation program for full-time drivers," Dykes said.

He told analysts that the company has identified 24 buildings for closure in the first half of 2026 and will continue to evaluate additional buildings for closure.

Verizon is selling 274 retail stores, affecting about 3,000 workers
A Verizon store in New York.

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Verizon said in July that it would transition 274 retail stores into franchise locations as part of ongoing changes at the telecom giant.

The company said about 2,500 retail workers and 500 corporate roles would be cut, and that typically around 70% of store employees accept jobs under the new franchisees.

The move comes two months after Verizon laid off several hundred corporate employees, or about 1% of its head count, as the company reallocates workers across its overall business.

Volvo is cutting 2,500 global jobs
Tourists visit the volvo exhibition area at the Auto Expo in Nanjing, Jiangsu Province, China on April 30, 2026.
Volvo says it's trying to save about $530 million as Chinese sales and American tariffs hit.

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Volvo's CEO, Håkan Samuelsson, said the luxury automaker is facing "a very tough environment with strong external challenges," including a fierce Chinese car market, US tariffs, and continued high-priced investments in a new lineup of electric vehicles.

The company said it is cutting 2,500 employees globally — including 2,000 in Sweden — to save around $530 million in response to those headwinds.

Volvo is also ending consultant contracts and planning some targeted employee exits, the company said in a press release.

Walmart said it would cut or relocate 1,000 corporate jobs
A Walmart store is seen on February 03, 2026 in Austin, Texas.

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Walmart told employees on May 12 that it would cut or relocate about 1,000 corporate jobs to address redundancies and duplicate roles.

Suresh Kumar, Walmart's chief technology and development officer, and Daniel Danker, executive vice president of AI acceleration, product, and design, announced the changes in a memo.

"We've made changes to simplify how the work is organized, make ownership clearer, and better align roles to the work and skills we need going forward," the memo said.

The move follows Walmart's May 2025 decision to cut 1,500 corporate roles as part of an effort to "remove layers and complexity."

The company employed 2.1 million people as of January.

WiseTech is cutting 30% of its workforce
Wisetech logo on smartphone screen
Wisetech is cutting 2,000 jobs.

Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images

Logistics software maker Wisetech is cutting 2,000 jobs, or 30% of its staff, citing AI-driven efficiency gains.

In a conference call on February 25, CEO Zubin Appoo embraced AI and said that it means more productivity, in less time, and from fewer employees. The Sydney-based company employed about 7,000 people, according to its annual report released in October.

"I am prepared to say this clearly: the era of manually writing code as the core act of engineering is over," Appoo said. AI is "unlocking levels of efficiency gains across WiseTech that were previously out of reach."

Wix CEO said the company is set to cut 20% of its workforce
Wix logo on phone

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Wix, which provides website-building software, is reducing its workforce by 20%, the CEO told employees in a memo published on X on May 28.

The Israel-headquartered company employs about 5,300 workers.

CEO Avishai Abrahami cited the "fast evolution of AI capabilities" as a reason for the cuts and said the company needed to become a "faster, leaner, and flatter organization."

Workday is cutting jobs
Workday logo

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Workday is cutting about 400 jobs, and said on February 4 that the move will help the enterprise software company redirect resources toward priority areas.

The layoffs will primarily affect customer-facing roles that are "non-revenue generating," Workday said in a regulatory filing.

The cuts represent roughly 2% of its workforce and are expected to result in about $135 million in charges in the fiscal fourth quarter, which ended in January.

Workday announced a larger round of layoffs about a year ago, citing the need to invest more heavily in strategic areas such as AI. The company reported about 20,600 employees as of late October.

Visa is cutting roughly 7% of its workforce
A stack of Visa credit cards.
Visa is also cutting thousands of workers, the company confirmed.

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Global payment technology company Visa confirmed to Business Insider that it's cutting about 2,600 jobs.

That's roughly 7% of the company's employee footprint.

"To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work," CEO Ryan McInerney wrote to staff in an internal memo, according to Bloomberg. "AI is also helping to accelerate this evolution and shape the way work gets done at Visa."

Zillow cut 500 employees
Zillow branded exhibition booth with blue house-shaped displays and visitors inside a large indoor event space.
Zillow said it was cutting 500 roles.

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Zillow CEO Jeremy Wacksman announced on August 4 that the company was cutting 500 employees as part of "organizational changes."

As of December, Zillow had around 7,000 employees, so the changes are affecting about 7% of its workforce.

"These changes are about ensuring we have a disciplined cost structure and getting more efficient, with the right people in the right positions," Wacksman said in a blog post.

Is your company conducting layoffs? Got a tip?
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Dropbox is cutting roughly 200 workers
A phone shows Dropbox on the App Store.
Dropbox announced layoffs of roughly 200 workers.

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Dropbox announced on October 28 that it is cutting roughly 200 roles, or 9% of its global workforce.

"Delivering on that strategy requires concentrating our resources on the priorities that will have the greatest potential for customer impact and growth," Dropbox co-CEO Ashraf Alkarmi wrote in an email to employees.

Alkarmi said while Dropbox was profitable, it had to make "hard choices."

The affected roles are in the company's Engineering, Product, Design, and G&A teams. Alkarmi also wrote in the email that Dropbox's chief technology officer, Ali Dasdan, would be spending down.

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