Tech layoffs hit 73,000 in 2026; Meta plans 8,000 cuts
What's the story
The tech industry is witnessing a major wave of layoffs in 2026, with more than 73,000 jobs cut in just three months. The trend has been led by companies like Meta and Oracle, which are downsizing their workforces while focusing on artificial intelligence (AI). The restructuring efforts indicate a major shift in how tech giants are adapting to the future.
Job cuts
Meta plans to cut around 8,000 jobs
Meta Platforms is reportedly planning to cut around 8,000 jobs in one of its biggest layoffs in recent years. The company plans a major round of layoffs in May, which could affect nearly 10% of its global workforce. This comes as part of a larger trend with over 73,200 jobs lost across 95 companies in Q1 2026, according to Layoffs.fyi data.
Restructuring
Snap and Disney also announce job cuts
Snap Inc and The Walt Disney Company are among other firms that have announced job cuts. Snap plans to cut around 1,000 jobs or nearly 16% of its workforce as part of a restructuring effort aimed at improving efficiency and speeding up profitability. Meanwhile, Disney is preparing to cut some 1,000 roles in its first major restructuring under CEO Josh D'Amaro.
AI focus
Oracle's layoffs could affect up to 30,000 employees globally
Oracle Corporation is reportedly laying off between 20,000 and 30,000 employees globally. The restructuring affects several divisions including cloud, healthcare, sales and NetSuite. India is expected to be among the worst-hit regions with an estimated 12,000 jobs likely to be cut. The scale of these layoffs highlights Oracle's aggressive shift toward AI and cloud infrastructure.