Global tech layoffs may cross 3 lakh in 2026

Global tech layoffs are accelerating in 2026, with more than 80,000 jobs already cut in the first quarter and total losses likely to exceed 3 lakh this year, led by companies like Oracle, Amazon, and Meta, according to a report.

The report by TradingPlatforms noted that the latest wave of layoffs builds on a broader post-pandemic correction, with over one million tech jobs lost globally since 2021 as companies recalibrate hiring after the Covid-era expansion.

Artificial intelligence and automation have emerged as key drivers of this transformation, with nearly half of all layoffs in 2026 linked to AI-related restructuring.

The US remains the worst-hit market, accounting for nearly 77 per cent of global layoffs so far this year, with over 61,000 job cuts across 62 companies.

Among companies, Oracle has reported the highest number of layoffs globally in 2026, cutting more than 25,000 roles as part of a major restructuring tied to its AI infrastructure push.

Amazon followed with around 16,000 job cuts amid efforts to streamline operations and improve efficiency. The parent of major social media platforms, Meta, eliminated approximately 2,400 roles.

Moreover, layoffs outside the US have been more fragmented.

Australia recorded around 4,450 job cuts, while in Europe, countries such as Austria, Sweden, and the Netherlands saw significant reductions linked to pressures in semiconductor manufacturing, telecom and IT services.

In Asia, India reported over 2,000 layoffs, followed by Israel and Singapore, with cuts spanning AI startups, e-commerce platforms, and cybersecurity firms.

Sector-wise, cloud, computing and software-as-a-service (SaaS) companies accounted for the highest number of layoffs at around 28,000, followed by e-commerce firms with nearly 19,000 job cuts.

The report highlighted that companies are increasingly restructuring operations to prioritise AI investments, streamline costs and improve efficiency, even as many continue to report strong financial performance.

"AI is no longer just a future investment but a current driver of organisational restructuring and workforce decisions," the report noted.

However, the analysis suggested that many layoffs are pre-emptive cost-cutting measures aimed at funding AI infrastructure, rather than a direct result of automation replacing jobs at scale.