Tech, media layoffs surge as companies chase AI-driven restructuring
What's the story
The past two weeks have witnessed a fresh wave of layoffs in the tech and media industry. Global giants like Snap, Disney, Meta and Oracle have announced job cuts almost back-to-back. The trend is largely driven by companies looking to cut costs and streamline operations while focusing on artificial intelligence (AI) and restructuring. Let's take a closer look at these layoffs and their severance packages.
Snap layoffs
Snap to cut around 1,000 jobs
Snap Inc has announced plans to cut around 1,000 jobs or roughly 16% of its global workforce. The move is part of a restructuring effort aimed at improving efficiency and accelerating growth. Along with job cuts, Snap is also eliminating over 300 unfilled positions. The company expects these measures to save over $500 million annually by H2 2026 but anticipates severance-related expenses between $95 million and $130 million.
Disney layoffs
Disney to eliminate some 1,000 roles
The Walt Disney Company is gearing up for another round of job cuts, with some 1,000 roles expected to be eliminated in the coming months. This will be the first major restructuring exercise under CEO Josh D'Amaro. The severance structure at Disney varies by seniority and tenure. Non-managerial employees with less than five years at the company will get four weeks of pay while those with longer service will get one week's pay per year capped at 52 weeks.
Meta layoffs
Meta's fresh job cuts across California offices
Meta continues to trim its workforce in 2026, with fresh job cuts across its California offices. About 124 roles will be eliminated in Burlingame and another 74 in Sunnyvale later in May. These layoffs are part of a broader pattern this year. In March, the company cut around 700 roles across recruitment, sales and operations functions as well as its Reality Labs division.
Oracle layoffs
Oracle to cut up to 30,000 jobs globally
Oracle's restructuring is one of the largest in this round of layoffs. The company is cutting between 20,000 and 30,000 jobs globally, with India being one of the worst-hit countries. The cuts affect multiple business units including cloud, healthcare, sales and NetSuite. In India, severance packages include several elements such as 15 days' salary per year of service plus an ex gratia payment of similar value along with leave encashment and a fixed two-month salary component.