May Mayhem 2026: Nearly 30,000 tech jobs were wiped out
The majority of layoffs were driven by artificial intelligence (AI) as companies revamp business operations and investment plans, and even for cost-cutting measures.
- May 28, 2026,
- Updated May 28, 2026 10:30 AM IST
We are 5 months into 2026, and more than 1 Lakh tech employees have been laid off across global companies, including Meta, Cloudflare, LinkedIn, and others. The majority of these layoffs were driven by artificial intelligence (AI) as companies revamp business operations and investment plans, and even for cost-cutting measures.
May tech layoffs 2026
In May 2026, over 28,000 tech employees were laid off according to a layoff tracking website called Layoff.fyi. One of the biggest workforce reductions was conducted by social media giant Meta. The company reduced 10% of its global workforce, affecting nearly 8000 employees.
Must read: Meta layoffs 2026: Severance package and benefits offered to over 8000 employees
Meta also shifted over 7000 employees to an AI-focused project as it doubles down on automation tools and next-generation digital products. Following Meta, PayPal laid off 4,760 employees, while Cisco also cut more than 4,000 jobs as it plans to invest more in AI.
Cisco CEO Chuck Robbins said in a memo, “The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward areas where demand and long-term value creation are strongest.”
On the other hand, PayPal may further cut about 20% of its workforce over the next two to three years as it expands AI efforts. Recently, Intuit, a US-based financial software company, also laid off 3,000 employees globally, which is said to 17% of its workforce. The company stated to improve execution and streamline product delivery as the reason for the workforce reduction.
Must read: ‘AI will displace human labor at large scale’: Anthropic co-founder Chris Olah warns
Professional networking platform, LinkedIn, also joined the trend, as it laid off 875 employees as it streamlines operations and increased its focus on AI-driven products. Furthermore, Cloudflare also announced to cut more than 1,100 jobs worldwide due to AI adoption growing within the organisation. On May 25, Wix also announced to cut 20% of its workforce, which impacted over 1000 employees.
Alongside these companies, Ticketmaster, Zoominfo, Adda247, Bill.com, Arctic Wolf, Upwork, and Truecaller also announced layoffs in the month of May. Now, as June begins, fears of another round of job cuts are already surfacing.
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We are 5 months into 2026, and more than 1 Lakh tech employees have been laid off across global companies, including Meta, Cloudflare, LinkedIn, and others. The majority of these layoffs were driven by artificial intelligence (AI) as companies revamp business operations and investment plans, and even for cost-cutting measures.
May tech layoffs 2026
In May 2026, over 28,000 tech employees were laid off according to a layoff tracking website called Layoff.fyi. One of the biggest workforce reductions was conducted by social media giant Meta. The company reduced 10% of its global workforce, affecting nearly 8000 employees.
Must read: Meta layoffs 2026: Severance package and benefits offered to over 8000 employees
Meta also shifted over 7000 employees to an AI-focused project as it doubles down on automation tools and next-generation digital products. Following Meta, PayPal laid off 4,760 employees, while Cisco also cut more than 4,000 jobs as it plans to invest more in AI.
Cisco CEO Chuck Robbins said in a memo, “The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward areas where demand and long-term value creation are strongest.”
On the other hand, PayPal may further cut about 20% of its workforce over the next two to three years as it expands AI efforts. Recently, Intuit, a US-based financial software company, also laid off 3,000 employees globally, which is said to 17% of its workforce. The company stated to improve execution and streamline product delivery as the reason for the workforce reduction.
Must read: ‘AI will displace human labor at large scale’: Anthropic co-founder Chris Olah warns
Professional networking platform, LinkedIn, also joined the trend, as it laid off 875 employees as it streamlines operations and increased its focus on AI-driven products. Furthermore, Cloudflare also announced to cut more than 1,100 jobs worldwide due to AI adoption growing within the organisation. On May 25, Wix also announced to cut 20% of its workforce, which impacted over 1000 employees.
Alongside these companies, Ticketmaster, Zoominfo, Adda247, Bill.com, Arctic Wolf, Upwork, and Truecaller also announced layoffs in the month of May. Now, as June begins, fears of another round of job cuts are already surfacing.
For Unparalleled coverage of India's Businesses and Economy – Subscribe to Business Today Magazine