Tech companies worldwide have eliminated over 100,000 jobs in the first five months of 2026, with AI and automation driving major restructuring and efficiency pushes amid slowing revenue growth.
The Recent job cuts include SaaS firm Freshworks laying off 11% of its workforce (~500 employees) and cryptocurrency exchange Coinbase trimming 14% of staff.
Freshworks cited increased AI adoption across operations, while Coinbase pointed to crypto market volatility and AI integration.
Meta is reportedly planning around 8,000 job cuts (nearly 10% of staff), following earlier reductions, and Snapchat’s parent plans to eliminate 1,000 roles (16%).
Oracle laid off about 30,000 globally, including 10,000 in India.
Major Indian IT firms like TCS, Infosys, Wipro, HCLTech, and Tech Mahindra recorded a net reduction of nearly 7,000 employees in FY26.
Startups such as SuperOps also cut around 30% of staff to pivot to AI-first models.
According to Layoffs.fyi, over 23,000 roles were cut across 106 companies this year, compared to 124,201 for all of 2025.
Most reductions are concentrated in consumer tech and finance sectors.
Companies are flattening hierarchies, creating smaller AI-native teams, and prioritising efficiency over headcount growth.
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