Global technology firms have significantly increased job cuts in the first quarter of 2026, with 73,200 layoffs reported by 95 companies, according to Layoffs.fyi data. Recent weeks have seen a notable rise in headcount reductions, with companies like Snap Inc., The Walt Disney Company, Meta Platforms, and Oracle Corporation announcing layoffs to streamline operations and focus on artificial intelligence.
Snap Inc., a social media platform, is set to reduce about 1,000 jobs, representing approximately 16% of its workforce, and eliminate over 300 open roles to enhance efficiency and drive growth. CEO Evan Spiegel highlighted that advancements in AI are facilitating the automation of repetitive tasks, aiming to achieve savings exceeding $500 million by the latter half of 2026, with estimated severance costs ranging from $95 million to $130 million.
The Walt Disney Company is planning to cut around 1,000 positions in its first major restructuring under new CEO Josh D’Amaro. Meta Platforms, on the other hand, continues its layoffs, with 198 roles set to be eliminated in its California offices. In addition, Oracle intends to cut 20,000 to 30,000 jobs to bolster its AI data-center capacity, while Amazon recently announced the layoff of 16,000 employees as part of its AI restructuring plan.
India has been significantly impacted by Oracle’s layoffs, with an estimated 12,000 employees affected across various divisions such as cloud, healthcare, sales, and NetSuite. Industry leaders predict that many white-collar roles reliant on computers could be automated within the next 12 to 18 months.
