Tech industry layoffs exceed 128,000 in 2026 as companies redirect spending toward AI

Technology companies including Oracle, Amazon, Meta, Microsoft and Uber have announced major workforce reductions totaling at least 128,536 job cuts globally through September 2026, according to industry layoff-tracking data cited by LiveMint. Oracle accounts for around 21,000 cuts while simultaneously increasing AI infrastructure spending to $2.8 billion. Amazon cut 17,267 jobs and Meta reorganized roughly 8,000 employees into AI-focused teams. The layoffs reflect a broader pattern: companies are redirecting budgets from existing functions toward AI engineers, data centers and cloud infrastructure rather than simply cutting costs. Wipro reported that AI adoption freed capacity equivalent to 20,000 employees who were redeployed. The restructuring suggests the technology labor market faces structural change beyond pandemic-era hiring corrections.