Tech layoffs have already passed 100,000 in 2026 as the industry cuts jobs to fund AI
The tech industry has seen over 100,000 layoffs in 2026, with companies like Meta, Cisco, and PayPal cutting jobs to fund AI investments. The layoffs are likely due to a combination of factors, including AI automation, overhiring, and resizing. The trend is expected to continue, with TrueUp projecting up to 370,000 tech sector layoffs in 2026.
- ▪Meta has laid off 8,000 workers to offset AI investments, with another 7,000 potentially being redirected to AI-related roles.
- ▪PayPal aims to eliminate around 20% of its workforce over the next two to three years, which could amount to 4,760 workers.
- ▪Cisco has announced around 4,000 layoffs, with CEO Chuck Robbins stating that the company is investing in AI infrastructure.
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Industry AI layoffs workplace Tech layoffs have already passed 100,000 in 2026 as the industry cuts jobs to fund AI Meta, Cisco, Intuit, and PayPal lead a wave – 2026 is shaping up to be brutal By Daniel Sims May 22, 2026, 9:50 24 comments Serving tech enthusiasts for over 25 years. TechSpot means tech analysis and advice you can trust. A hot potato: Tech sector job losses in early 2026 have already surged past 100,000, and the past month suggests the trend is not subsiding. While AI automation is likely not the sole cause, aggregated reports suggest it is the leading factor, with Meta's transition into an "AI-first" company headlining May's damage to the job market.
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