New Delhi, April 19: Global technology companies have seen a significant increase in layoffs during the first quarter of 2026, with 95 firms letting go of over 73,200 employees.
Data from layoffs.fyi indicates that layoffs have surged again in the past two weeks. Companies like Snap, The Walt Disney Company, Meta Platforms, and Oracle Corporation have recently announced job cuts as they streamline operations to reduce costs and allocate resources towards AI.
Snap has stated it will cut approximately 1,000 jobs, reducing its workforce by about 16%. The company also plans to eliminate over 300 vacant positions to enhance efficiency and accelerate growth.
CEO Evan Spiegel noted that advancements in AI are enabling the automation of repetitive tasks. Streamlining operations is expected to save the company over $500 million by the second half of 2026, while the cost of layoffs is estimated to be between $95 million and $130 million.
The company has announced a severance package for its U.S.-based employees, which includes four months of pay, continued healthcare, and equity vesting.
Reports indicate that The Walt Disney Company, under new CEO Josh D’Amaro, plans to lay off nearly 1,000 positions as part of its first major restructuring.
Meta Platforms continues to reduce its workforce, with plans to cut 198 positions in its Burlingame and Sunnyvale offices in California. In March, Meta had already laid off 700 employees across its recruitment, sales, and operations departments, including roles in the Reality Labs division.
In January, the company announced a reduction of 1,500 jobs in its augmented and virtual reality divisions.
Tech giant Oracle is planning to lay off between 20,000 to 30,000 employees to enhance its AI data center capabilities. Meanwhile, Amazon recently announced the termination of 16,000 employees as part of its AI restructuring plan.
India is among the regions most affected by Oracle’s layoffs, with estimates suggesting that around 12,000 employees in cloud, healthcare, sales, and NetSuite divisions may be impacted.
Many leaders in the tech industry believe that most high-level positions reliant on computers could be automated within the next 12 to 18 months.
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