20 Companies That Have Slashed the Most Jobs in 2016

20. McKesson 20. McKesson

Jobs cut: 1,600*

The drug distributor faced a downturn this year thanks to weak generic drug pricing, a contract expiration with pharmacy benefit manager Optum and changes in contracts with Omnicare and Target.

* Jobs data from Challenger, Gray & Christmas reflect combined totals for the year.

19. DNC Parks & Resorts at Yosemite 19. DNC Parks & Resorts at Yosemite

Jobs cut: 1,718

The large concessions company lost its lucrative hospitality services contract at Yosemite to rival Aramark last year.

18. Kohl’s Department Stores 18. Kohl’s Department Stores

Jobs cut: 1,800

Reason: The rise of online shopping forced the retailer to announce in February that it was closing 18 stores.

17. Norfolk Southern 17. Norfolk Southern

Jobs cut: 2,000

The railway company, which has been hit by falling coal and fuel surcharge revenue, is slashing costs in order to ward off another takeover attempt by Canadian Pacific Railway.

16. Avon Products 16. Avon Products

Jobs cut: 2,500

The struggling cosmetics maker is trying to cut costs by eliminating jobs after four years of quarterly revenue declines.

15. Johnson & Johnson 15. Johnson & Johnson

Jobs cut: 3,000

The medical devices segment of the company once saw booming sales growth, but that growth has slowed as the health-care system has changed and costs have come under pressure.

14. Sports Authority 14. Sports Authority

Jobs cut: 3,600

The retailer filed for bankruptcy in March and has started liquidating 140 of its 450 stores.

13. Boeing 13. Boeing

Jobs cut: 4,000

The aircraft maker announced job cuts as it competes with its rival Airbus and deals with reduced demand.

12. Hancock Fabrics 12. Hancock Fabrics

Jobs cut: 4,500

After the fabric seller filed for bankruptcy in February, the company that purchased it began liquidating its 255 stores.

11. Macy’s 11. Macy’s

Jobs cut: 4,820

As Amazon and other online shopping destinations gain in popularity, Macy’s and other traditional retailers have been struggling. The department store chain is shuttering 140 stores.

10. Weatherford International 10. Weatherford International

Jobs cut: 6,000

Weak oil prices have hurt this oil and gas service company.

9. DuPont 9. DuPont

Jobs cut: 6,000

As it merges with Dow Chemical, DuPont had said it plans to cut 10 percent of its workforce of about 54,000 employees.

8. Buffets 8. Buffets

Jobs cut: 6,000

The parent company of Old Country Buffet and other restaurant chains declared bankruptcy for the third time since 2008 in March.

Ben Garvin

7. Chevron 7. Chevron

Jobs cut: 7,500

Like many in its industry, Chevron has been under pressure because of weak oil prices.

6. Dell 6. Dell

Jobs cut: 10,000

The PC manufacturer is cutting jobs as it deals with flat-lining computer sales.

5. Halliburton 5. Halliburton

Jobs cut: 10,200

Another oil services giant hurt by lower crude prices, Halliburton saw its first-quarter sales fall by 40 percent.

4. Intel 4. Intel

Jobs cut: 12,000

The tech giant is working to shift its focus to higher-growth areas, like convertible laptop-tablet devices, from its struggling core PC business.

3. Schlumberger 3. Schlumberger

Jobs cut: 12,500

The world's largest oilfield services company has cut 34,000 jobs in total, or more than 25 percent of its global workforce, in the face of falling oil prices.

2. Wal-Mart Stores 2. Wal-Mart Stores

Jobs cut: 16,000

The retailer is closing 269 stores worldwide as it focuses on e-commerce and looks to adjust to changing consumer trends.

1. National Oilwell Varco 1. National Oilwell Varco

Jobs cut: 17,850

The supplier of oil drilling equipment said it cut about 6,000 employees from its workforce of just over 50,000 in the first quarter. It slashed its workforce by about a fifth last year.