Some of the biggest names in corporate America are starting the new year with massive layoffs. Companies announced plans to cut 82,307 jobs last month, a 136% increase from December and the second-highest number of layoffs in January since the 2009 financial crisis, according to Challenger, Gray & Christmas data.

One reason for the continued layoffs in February is that companies are downsizing after overhiring during the epidemic and cutting certain areas to invest in other areas such as artificial intelligence.

Here is a partial list of large-scale layoffs announced in 2024:

Alphabet Inc.’s Google is laying off hundreds of employees across its digital assistant, hardware and engineering teams as part of an ongoing effort to cut costs and focus on artificial intelligence. The layoffs come as Google’s core Internet search business feels the heat from artificial intelligence products from rivals Microsoft Corp. and OpenAI, the creator of ChatGPT.

Amazon.com Inc. announced hundreds of layoffs at its health care division, following a total of 27,000 layoffs in 2022 and 2023, with CEO Andy Jassy following rapid expansion during the pandemic Want to cut costs.

BlackRock Inc. will lay off about 600 employees, or about 3% of its global workforce, as it seeks to reallocate resources amid rapid changes in asset management. “We are seeing our industry change faster than at any time since BlackRock was founded,” CEO Larry Fink and President Rob Kapito wrote in a memo to employees. It’s all quick.”

Cisco Systems Inc., the largest maker of networking equipment, plans to cut thousands of jobs as slowing corporate technology spending wipes out its sales growth. The restructuring plan will affect approximately 5% of Cisco’s employees. The company had nearly 85,000 employees as of last year, meaning the move will involve about 4,000 jobs.

Citigroup CEO Jane Fraser said this year will be a “turning point” for Citigroup. She hopes to reduce bureaucracy and increase profitability. It will eliminate 20,000 positions.

DocuSign Inc. will cut about 6% of its workforce as part of a restructuring effort after talks to sell itself appeared to have stalled. The move will mainly affect sales and marketing staff. As of the end of 2023, DocuSign had 7,336 employees.

Duolingo Inc. began laying off contractors in January as it moved to rely on generative artificial intelligence to “develop new content significantly faster.” No full-time employees are affected by the layoffs.

eBay Inc. will cut 9% of its workforce, or about 1,000 jobs, as staffing and expenses grow faster than growth. This marks the company’s second round of layoffs in a year: In February 2023, the company announced a 4% layoff, citing a slowdown in consumer spending following the pandemic-driven e-commerce boom.

The Estée Lauder Companies is cutting up to 3,000 jobs as part of a restructuring plan to make the owner of the Ordinary and Clinique brands a leaner, more profitable company that can more quickly respond to changes driven by: Beauty Trends: Social media and investing more in their brands.

Microsoft Corp. will cut 1,900 jobs at its video game division, including Activision Blizzard Inc., which it acquired for $69 billion in a deal it completed late last year.

Morgan Stanley plans to cut hundreds of jobs in the first such move under Chief Executive Ted Pick. According to people familiar with the matter, the layoffs will affect less than 1% of employees in the wealth management business, which has about 40,000 employees and is the company’s largest unit.

Nike Inc will cut about 2% of its global workforce as the sportswear giant continues its efforts to reduce costs in response to weak sales prospects and increasing competition. The Oregon-based company did not provide a number of employees that would be affected, although it currently has about 83,700 employees worldwide.

PayPal Holdings Inc. announced in January it would cut about 2,500 jobs as it struggles to keep up with competition from Apple Inc. and Zelle. This follows a similar round of cuts last January.

Snap Inc. is cutting about 10% of its workforce globally to “best position our business to execute on our highest priorities.” Like its social media peers, Snap has been struggling to offset declining advertising revenue.

After reporting disappointing earnings, United Parcel Service Inc. announced it would save more than $1 billion by cutting 12,000 of 85,000 management positions. The company will also require employees to work in the office five days a week. The company will also look into selling its freight brokerage business, which has struggled due to the freight recession.

Warner Music Group will cut 10% of its workforce, primarily from its Uproxx and HipHopDx websites and podcast network. It hopes to cut costs by $200 million a year. The company said the funds will be reinvested into new opportunities.