The global technology industry is going through another major wave of job cuts. More than 1.75 lakh tech jobs have been eliminated worldwide in 2026 so far, as several big companies restructure their businesses, reduce costs and increase their focus on artificial intelligence (AI).

Companies including Apple, Microsoft, Amazon, Meta and Oracle have either announced layoffs or made significant changes to their workforce this year.

The scale of the cuts shows how quickly the technology industry is changing. While AI is creating new opportunities, companies are also using automation and new technologies to rethink how many employees they need and what kind of skills they require.

Why are tech companies cutting jobs?

AI is one of the biggest factors behind the current changes in the technology sector. Companies are investing billions of dollars in AI and automation and are moving resources towards projects they believe will drive future growth.

But AI is not the only reason for the layoffs.

Companies are also cutting jobs because of rising costs, changing customer demand, business restructuring, weaker performance in some areas and a shift in investment priorities.

In many cases, companies are trying to operate with smaller teams while investing more heavily in AI and other emerging technologies.

Oracle cuts around 21,000 jobs

Oracle is among the companies to have announced one of the biggest workforce reductions. In a financial filing on June 23, Oracle said it had cut around 21,000 jobs over the previous year. The reduction represented nearly 13% of its workforce.

The company has been increasing its focus on cloud computing and AI, while restructuring different parts of its business. Oracle’s layoffs are part of a wider trend in which technology companies are reassessing their workforce and directing more resources towards areas they see as future growth drivers.

Apple also reduces workforce

Even Apple has not remained untouched by the changing technology landscape. In August, the company reportedly laid off at least 60 employees from its Vision Group, which works on products including the Vision Pro headset.

Some employees involved in Apple’s AI-related efforts have also reportedly been affected by workforce changes. The developments highlight how Apple is reassessing its priorities as it works to strengthen its position in the rapidly growing AI race.

Microsoft cuts thousands of jobs

Microsoft announced another round of layoffs in July, affecting around 4,800 employees, or approximately 2.1% of its workforce. Its gaming business, particularly Xbox, was among the areas affected.

Around 3,200 Xbox-related roles are expected to be eliminated through fiscal year 2027, including 1,600 layoffs announced earlier in July. Microsoft has been reviewing its gaming operations and spending as it tries to focus on areas with greater long-term growth potential.

Amazon restructures its workforce

Amazon has also been making significant changes to its workforce. In July, the company cut jobs in its artificial general intelligence division. Amazon did not disclose the exact number of employees affected.

The company said it was narrowing its focus to AI projects that are most important to customers. Amazon had already announced much larger job cuts, with around 30,000 positions eliminated in rounds announced in October and January, according to the report.

The company’s approach reflects a broader shift in the technology industry: companies are hiring and investing heavily in AI while simultaneously reducing jobs in some traditional or less-prioritised areas.

Meta cuts around 8,000 jobs

Meta has also taken major steps to reduce its workforce while increasing investment in AI. The company began cutting around 8,000 jobs, or nearly 10% of its workforce, in May. It also planned to eliminate about 6,000 open positions.

Meta has said the move will help free up resources for greater investment in artificial intelligence. The company is competing aggressively in the AI space and has been redirecting both employees and spending towards AI-related projects.

Other tech companies are also cutting jobs

The layoffs are not limited to the biggest technology giants. Several other companies have announced workforce reductions in 2026. Visa is cutting around 2,600 jobs, mainly in technology and product teams.

Monday.com is cutting about 630 jobs, equivalent to around 20% of its workforce, as AI becomes more important to its business. Uber has reportedly reduced around 10% of its customer-service workforce as it simplifies operations and increases the use of AI.

Intuit plans to cut around 3,000 jobs, or about 17% of its workforce. Cisco plans to cut just under 4,000 jobs while continuing to invest in AI-related technologies.

Cloudflare is cutting more than 1,100 employees as part of a restructuring linked to the changing technology landscape. PayPal plans to cut nearly 4,800 jobs, representing around 20% of its workforce, over the next few years. Coinbase has also announced around 700 job cuts, or roughly 14% of its workforce.

Is AI responsible for all these layoffs?

Not necessarily. Although AI has become an important factor in workforce decisions, companies are cutting jobs for several different reasons.

For instance, Epic Games laid off more than 1,000 employees after engagement with Fortnite declined. The company said the layoffs were not caused by AI.

Other companies have also pointed towards restructuring, changing consumer demand and business conditions rather than AI as the main reason for job cuts.

This means the current wave of layoffs is being driven by a combination of AI adoption, cost-cutting, changing demand and business restructuring.

What does this mean for Indian tech workers?

The developments are particularly important for India’s large technology workforce.

India has become a major hub for IT services, software development, customer support and technology operations for global companies. Changes in hiring patterns at major international firms can therefore have an impact on Indian professionals as well.

However, the current trend does not necessarily mean that technology jobs are disappearing altogether.

Instead, the skills companies are looking for are changing.

AI, automation, cloud computing, data and other emerging technologies are becoming increasingly important. Professionals who can understand and use these technologies may have an advantage as companies redesign their teams.

For students and young professionals entering the technology sector, the message is increasingly clear: learning one technology or skill may not be enough for an entire career.

The tech job market is changing

The loss of more than 1.75 lakh tech jobs in 2026 highlights a major transformation taking place across the industry.

Technology companies are not simply reducing their workforce. They are also deciding where they want to invest, which skills they need and how AI can change the way their businesses operate.

For employees, this creates both challenges and opportunities.

Some traditional roles may come under pressure, but new roles related to AI, data, automation and emerging technologies are also being created.

The big question now is whether the current wave of layoffs will continue through the rest of 2026.

For tech workers, one thing is becoming increasingly important: the ability to adapt, learn new skills and work alongside AI could be one of the biggest advantages in the future job market.