Tech layoffs persist: Verizon, HP, and Apple cut jobs in November cost-cutting push

November saw continued job reductions across the technology sector as major companies, including Verizon, HP, Apple, and Hewlett-Packard Enterprise (HPE), announced or continued layoffs. The overarching driver for these cuts is a strategy to reduce costs, simplify organizational structures, and pivot focus towards new priorities amid a slowing market.

Verizon delivered the most significant announcement of the month, confirming plans to lay off over 13,000 employees. The company stated its intention is to “simplify” operations, addressing customer delays and complications. Sam Schulman, who issued the internal memo, indicated the necessity of becoming faster and more focused to ensure long-term success, better customer service, and new opportunity identification. However, industry expert Dominick Miserandino told TheStreet that job cuts alone might not be sufficient to return Verizon to its desired trajectory.

HP also announced a plan to reduce its global workforce by 4,000 to 6,000 jobs by 2028. The company aims to streamline its business operations and increase reliance on artificial intelligence (AI) to accelerate product development, believing these steps will enhance overall efficiency. Facing reduced demand for its computers and printers, HP is actively working to reshape its structure to align with current market conditions. Though phased over several years, the announcement contributed to the broader concern regarding tech employment.

Even Apple, typically viewed as stable during market fluctuations, implemented adjustments. Bloomberg reported that the company is cutting several sales positions responsible for business accounts, educational institutions, and government agencies. Apple is reorganizing its approach to selling large volumes of devices and services to institutions, aiming to manage this segment with a more focused team. While the scale of these cuts is smaller than those announced by other firms, they signal a tightening of organizational structure even at Apple.

Hewlett-Packard Enterprise (HPE) continued its steady pattern of reductions, cutting 52 jobs at its San Jose campus. These cuts impacted roles in cloud development, engineering, and product management. Although smaller in number than the Verizon or HP announcements, the HPE cuts, which began last month and carried into November, reflect a persistent trend across the technology industry.

Collectively, the November layoffs suggest the technology sector is entering a rebuilding phase characterized by a less rapidly growing market and increasing competition. Companies are seeking to become leaner, more efficient, and more adaptable to new market realities. For thousands of employees, November brought professional uncertainty, as the industry awaits to see if these efforts lead to corporate stability or if further job reductions will occur in the coming months.