Tech layoffs exceed 92,000 in 2026 as AI streamlines workflows
NewsBytes | May 11, 2026 7:39 PM CST
Tech giants cut jobs, $674B capex
Meta is letting go of 8,000 people (about 10% of its workforce) by May 20.
Snap is cutting around 1,000 jobs, 16% of its team, because AI is making things more efficient.
Microsoft launched a retirement buyout for nearly 9,000 longtime employees, while Amazon has trimmed about 30,000 roles to reduce corporate layers.
Despite all these cuts, tech giants aren't slowing down on automation: Alphabet, Microsoft, Meta, and Amazon are expected to spend $674 billion on capital expenditures this year.
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