Fortune 500 companies in the United States earned a combined $2.1 trillion in revenue last year while employing fewer people than ever before, according to livemint.com. Despite record profits and market values, these companies collectively cut 301,049 jobs in 2025, marking the first decline in employment outside a recession since 1995.
Amazon, the top company on the 2026 Fortune 500 list, increased its workforce by 20,000 employees, a 1.3% rise. Walmart, ranked second, maintained a flat headcount, while UnitedHealth Group, in third place, reduced its workforce by 10,000 employees, or 2.5%, livemint.com reported. This overall job reduction occurred even as these companies posted significant profit gains.
The decline in employment among Fortune 500 companies comes amid a surge in revenue and profits, highlighting a shift in corporate strategies possibly influenced by automation and efficiency improvements. The trend contrasts with historical patterns where employment typically rose alongside company growth. The data underscores how major U.S. corporations are generating record earnings while streamlining their workforce.
The Fortune 500 list, which has tracked company performance since 1995, shows this employment contraction as an unprecedented development outside of recession periods. The next comprehensive employment and revenue data release is expected with the 2027 Fortune 500 report, which will provide further insight into this evolving trend.