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Tech layoffs top 119,000 in first half of 2026
07 Jul 2026

The tech industry is experiencing a massive wave of layoffs, with over 119,000 employees lossing their jobs in the first half of 2026. This downturn is largely driven by AI-led restructuring.

Microsoft has laid off roughly 4,800 workers in its latest layoff round, primarily affecting the Xbox division.

This comes after the company had cut around 9,100 jobs last year and offered a voluntary retirement program for eligible US employees earlier this year.

Oracle and Meta
Other layoffs

Oracle has revealed a reduction of some 21,000 employees this year. The software company said it had about 1,41,000 employees at the end of May 2026, down from about 1,62,000 last year.

Meanwhile, Meta laid off nearly 8,000 workers in another major restructuring earlier this year as CEO Mark Zuckerberg ramped up the company's AI strategy.

PayPal, Cisco, and Dell
More cuts

PayPal has laid off about 20% of its workforce, or over 4,500 jobs. The company describes the cuts as part of a larger transformation strategy focused on AI adoption.

Cisco cut nearly 4,000 jobs as it shifts investment toward artificial intelligence and other long-term growth areas.

Meanwhile, Dell's headcount fell by some 11,000 employees in fiscal year 2026 while forecasting that revenue from AI-optimized servers could double next financial year.

Atlassian and Block
Further reductions

Atlassian cut its workforce by about 1,600 employees or some 10% of its staff. The company is rebalancing its business around enterprise sales and artificial intelligence.

Jack Dorsey's fintech firm Block has also laid off some 4,000 workers reducing its headcount to under 6,000 employees.

Amazon
Corporate changes

Amazon has laid off some 16,000 corporate roles, after another 14,000 job cuts announced in late 2025.

CEO Andy Jassy had previously warned that wider use of generative AI and autonomous agents would eventually make certain corporate roles redundant.

The company says the restructuring is aimed at streamlining management layers, increasing ownership and improving operational efficiency.