AI spending drives tech layoff surge past 100k in 2026
Tech layoffs in early 2026 have topped 100,000, driven largely by AI investments as firms move to AI-first strategies; Meta is cutting about 8,000 staff and may redeploy up to 7,000 to AI roles, with monthly layoffs exceeding 20,000 in every month this year except April. TrueUp projects total 2026 layoffs around 370,000, and May could be especially severe as PayPal and Cisco announce sizable cuts alongside Meta, reflecting AI infrastructure spending and organizational resizing, amid concerns about AI training practices.