New Delhi, June 6 (IANS) Over 1 lakh jobs have been cut in the technology sector in the first five months 2026, with May alone accounting for nearly 28,900 roles, a new report has said.

The report from Layoff.fyi said a total of 1,16,739 tech employees have been laid off year‑to‑date, adding that only 10,577 job cuts were announced in May 2025, less than half compared to 28,889 last month.

However, March was the worst month this year so far in terms of job cuts, with over 46,000 mass layoffs.

Major companies, including Uber, Meta, Cloudflare, Intuit, PayPal, Cisco, Quora and Coinbase implemented mass layoffs.

Uber disclosed layoffs in its People and Places division that amount to 23 per cent of that unit but less than 1 per cent of its roughly 34,000 global workforce.

The People and Places Division of Uber manages human resources, recruitment, workplace facilities and culture.

Further, Meta announced it was cutting 10 per cent of its global staff and shifting another 7,000 employees into AI‑focused roles.

PayPal in May announced plans to eliminate almost 20 per cent of its workforce or about 4,760 roles, over the next two to three years, to cut costs and accelerate AI adoption, according to multiple reports.

Silicon Valley giant Cisco announced 4,000 job cuts, comprising almost 5 per cent of its global workforce, in early May to redirect investment into artificial intelligence, security and related sectors.

US-based software firm ClickUp reduced headcount by 22 per cent in May as part of operations restructure to improve output “100-fold” through AI-orientated roles.

Several tech industry leaders have said that most white‑collar roles that rely on computers could be automated within the next 12 to 18 months.

Generative AI is not causing widespread job displacement in India’s IT sector but is reorganising work, raising productivity and shifting demand toward hybrid skill sets, a recent report said.

—IANS

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