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Global Tech Layoffs Hit 120,000 in 2026 as AI Drives Workforce Cuts

AI Industry News

2026-07-08 01:32:04

According to staffing consultancy Challenger, Gray & Christmas and the Layoffs.fyi database, global technology companies laid off approximately 120,000 employees through May 2026, reaching near-record levels despite rising revenues and profits. Meta cut about 8,000 employees (10% of workforce) in May, Cisco trimmed 4,000 (5%), Oracle disclosed 21,000 layoffs in its fiscal year ending June 22, and Amazon slashed 30,000 office workers across two rounds since October 2025. IBM reduced U.S. engineering staff by 3,000 to 9,000, Dell cut over 10,000 positions, and Salesforce eliminated more than 5,000 jobs. Companies cite generative AI adoption as the primary driver. Amazon CEO Andy Jassy stated the company will reduce reliance on human workers as AI agents are deployed, while Microsoft acknowledged AI has restructured workflows with automation handling routine tasks.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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