Why Are Tech Layoffs Rising Sharply in 2026?

The global tech industry is witnessing massive layoffs in 2026, creating uncertainty among employees worldwide. According to Layoffs.fyi data, more than 100,000 tech workers have lost their jobs globally within the first five months of the year. Oracle announced the biggest workforce reduction with nearly 30,000 layoffs, followed by Amazon with 16,000 job cuts and Meta with 8,000 employees affected. These developments have sparked serious concerns across the technology sector.

Several other major companies have also reduced their workforce significantly this year. PayPal laid off 4,760 employees, while Block and Cisco each cut around 4,000 jobs. Intuit reportedly removed 3,000 positions and WiseTech Global reduced around 2,000 employees. Experts believe cost-cutting measures, AI-driven automation, and business restructuring are the major reasons behind the ongoing wave of tech layoffs.