# Boeing, PepsiCo, Canva and Qualcomm cut thousands of jobs in one week, right before the holidays

Boeing says it is overstaffed, PepsiCo says it is too complex, Canva blames AI costs and Qualcomm says performance. US layoffs overall just hit a three-year October low.

By Patrick Karsh · 567 Business
Published: 2026-11-10T21:20:13.471624Z
Updated: 2026-11-10T21:25:16.119305Z
Canonical: https://567business.com/news/layoffs-boeing-pepsico-canva-qualcomm-november-2026

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At least four big employers announced job cuts in the past week that together touch several thousand roles: Boeing, PepsiCo, Canva and Qualcomm. Each gave a different reason. Boeing says it is overstaffed because its factories can't build planes as fast as planned. PepsiCo says its North American business is "complex and fragmented." Canva says its growth has slowed while its AI bills have soared. Qualcomm calls its cuts "performance-focused," as phone chip sales slide.

The timing is what stings. The cuts land just before the holidays, and they come as the wider US job market looks oddly calm. Announced layoffs in October were the lowest for that month since 2023, according to [Challenger, Gray & Christmas](https://www.challengergray.com/blog/october-layoffs-at-three-year-low-seasonal-hiring-plans-up-26/). For the workers involved, that calm is cold comfort.

## Who is cutting, and how many

The numbers below come from company memos and news reports. Not all are firm layoff counts. Canva's figure includes people asked to move or change roles. Qualcomm has not confirmed a number for India.

| Company | Roles affected | Stated reason | Where |
| --- | ---: | --- | --- |
| Boeing | About 2,500 (5%) | Slower production ramp | Mostly Seattle area |
| Canva | 1,271 (22%) | Slower growth, AI costs | Global, hubs in Sydney |
| PepsiCo | About 1,000 | Simplify structure | North America |
| Qualcomm | Up to 1,000 (reported) | "Performance-focused" | India, California |

Sources: [Seattle Times](https://www.seattletimes.com/business/boeing-aerospace/boeing-will-cut-5-of-its-commercial-airplane-workforce/), [TechCrunch](https://techcrunch.com/2026/11/04/canva-lays-off-over-1200-people-amid-slowing-growth/), [CNBC](https://www.cnbc.com/2026/11/09/pepsico-north-america-job-cuts.html), [Investing.com](https://www.investing.com/news/stock-market-news/exclusive-qualcomm-begins-job-cuts-india-and-california-among-regions-impacted-5016480).

```chart
type: bar
title: Roles affected by recent job cut announcements
note: Boeing is 5% of about 50,500 commercial airplane staff; Canva includes relocations and role changes; Qualcomm India is a reported upper estimate
source: [Seattle Times](https://www.seattletimes.com/business/boeing-aerospace/boeing-will-cut-5-of-its-commercial-airplane-workforce/), [TechCrunch](https://techcrunch.com/2026/11/04/canva-lays-off-over-1200-people-amid-slowing-growth/), [CNBC](https://www.cnbc.com/2026/11/09/pepsico-north-america-job-cuts.html), [Financial Express](https://www.financialexpress.com/business/industry-qualcomm-begins-india-layoffs-1000-jobs-at-risk-4380925/)
---
Company | Roles
Boeing | 2,500
Canva | 1,271
PepsiCo | 1,000
Qualcomm India | 1,000
```

## Boeing: overstaffed because it can't build fast enough

Boeing will cut about 5% of its commercial airplane workforce through attrition and layoffs, division chief Stephanie Pope told staff on Monday, according to [CNBC](https://www.cnbc.com/2026/11/09/boeing-layoffs-commercial-airplane.html). The unit had 50,494 employees at the end of 2025, [Reuters reported](https://www.investing.com/news/stock-market-news/boeing-to-cut-5-of-planemaking-divisions-workforce-seattle-times-reports-5012939). Five percent of that is roughly 2,500 people.

"Adjusting our production schedules and reducing aircraft output puts us in an overstaffed position," Pope wrote. Notices start in December. Boeing told investors in October that it would miss its 737 MAX targets this year. It now expects to reach 47 jets a month in early 2027, later than it had planned. Pope promised that everyone would be "treated with dignity and respect."

Reuters reporter David Shepardson posted the memo's key line within minutes of its release.

https://x.com/davidshepardson/status/2119848350107529485

This is a cut driven by the factory floor, not by software. Boeing has spent two years trying to rebuild trust after the January 2024 door-plug blowout on an Alaska Airlines jet. Slowing down to fix quality now means paying fewer people to wait.

## PepsiCo: 1,000 jobs while its home market stalls

PepsiCo is cutting about 1,000 jobs across North America over the coming week, [CNBC reported](https://www.cnbc.com/2026/11/09/pepsico-north-america-job-cuts.html). North America CEO Ram Krishnan told staff that "too much of how we work today remains complex and fragmented," according to [Bloomberg Law](https://news.bloomberglaw.com/daily-labor-report/pepsico-to-cut-1-000-jobs-in-north-america-restructuring).

The pressure is clear in the numbers. North American beverage volume fell 2% in the third quarter and food volume was flat. The company cut its full-year profit outlook in October. Activist investor Elliott took a stake of about $4 billion a year ago and has pushed for change, [Reuters noted](https://www.investing.com/news/stock-market-news/pepsico-to-cut-around-1000-jobs-in-north-america-wsj-reports-5013034).

CNBC shared the news with Krishnan's memo quote.

https://x.com/CNBC/status/2119947907612705067

Online, the cut was quickly tied to India. A widely shared post from the LayoffHedge account said PepsiCo was cutting in North America "while they rapidly expand in India." The company has said it is growing its Hyderabad business services center. In 2023 it said the center would grow to 4,000 people, [BusinessLine reported](https://www.thehindubusinessline.com/economy/world-economic-forum/pepsico-to-increase-gbc-headcount-to-4000/article66386146.ece). PepsiCo has not said any of this week's US roles are moving there. Our story on [Qantas sending 850 jobs to India](/news/qantas-850-jobs-india-accenture) shows how often these two trends now collide.

## Canva: a model exit package, and a hard reason

Canva's restructure touches 1,271 people, or 22% of staff. Some will lose their jobs; others will change roles or be asked to move to hubs like Sydney, [The Verge reported](https://www.theverge.com/tech/1025971/canva-changes-layoffs). CEO Melanie Perkins called it "without doubt the hardest moment in our thirteen-year history," according to [The Guardian](https://www.theguardian.com/australia-news/2026/nov/04/canva-layoffs-job-cuts-restructure).

The money problem is AI. Canva cut its revenue growth forecast to 20% from 30% after high costs for AI features, [TechCrunch reported](https://techcrunch.com/2026/11/04/canva-lays-off-over-1200-people-amid-slowing-growth/). The company has not said AI is replacing the people who leave.

What made Canva go viral was the package. Those leaving get at least six months of salary, a year of health coverage where offered, career help and access to a US$10,000 grant fund, according to [TechRepublic](https://www.techrepublic.com/article/news-canva-restructure-1271-workers-layoffs/). A post by Shweta Kukreja sharing Perkins' note drew nearly 100,000 likes, many from people asking why other firms don't do the same.

https://x.com/ShwetaKukreja_/status/2117899754533490828

## Qualcomm: India cuts start in Bengaluru

Qualcomm began notifying staff in India this week, starting in Bengaluru, [Financial Express reported](https://www.financialexpress.com/business/industry-qualcomm-begins-india-layoffs-1000-jobs-at-risk-4380925/). Indian reports say up to 1,000 roles are at risk. Sources told [Investing.com](https://www.investing.com/news/stock-market-news/exclusive-qualcomm-begins-job-cuts-india-and-california-among-regions-impacted-5016480) the real number is expected to be "significantly lower." California notices are also expected. Qualcomm declined to comment.

CEO Cristiano Amon told staff last month the cuts would be "performance-focused." Handset revenue fell 26% in the latest quarter. On X, Indian engineers disputed the performance framing. One widely shared post said senior engineers were among the most affected.

https://x.com/coolcoder56/status/2120068558873080156

That is one worker's account and has not been confirmed by the company.

## Is AI to blame? Less than it was

AI was the top reason for US job cuts for much of 2026. That has changed. Challenger counted 121,401 announced cuts tied to AI through October, about 20% of all cuts. But only 1,265 were tied to AI in October, the lowest monthly total of the year, according to [Challenger](https://www.challengergray.com/blog/october-layoffs-at-three-year-low-seasonal-hiring-plans-up-26/). "Market/economic conditions" has now overtaken AI as the top reason for the year.

| Measure, US | October 2026 | Jan to Oct 2026 |
| --- | ---: | ---: |
| All announced cuts | 43,994 | 617,189 |
| Cuts citing AI | 1,265 | 121,401 |
| Tech sector cuts | 5,576 | 171,501 |
| Food sector cuts | 9,677 | 39,370 |

Source: [Challenger, Gray & Christmas, October 2026 report](https://www.challengergray.com/blog/october-layoffs-at-three-year-low-seasonal-hiring-plans-up-26/).

This week's cuts fit that shift. Boeing and PepsiCo point to weak output and weak sales, not robots. Canva is the clearest AI case, but it is about the cost of AI, not AI doing the work. Even so, the fear is real. Jobless claims are near their lowest since 1969, as we cover in our [economy report](/news/jobless-claims-lowest-since-1969), yet people who lose white-collar jobs say new ones are hard to find.

## The bottom line for workers

The headline numbers on layoffs look low. The pain is concentrated. Tech has already cut more jobs this year than in all of 2025, and food companies are having their worst year since at least 2012, per Challenger. If you work at a firm missing its growth targets, the "low-fire" job market can still burn you. Watch Microsoft next: it offered voluntary exits to 60,000 workers in October, which Challenger says often signals more cuts to come.