New Delhi, June 6 (IANS). According to a new report, more than 1 lakh jobs have been lost in the technology (tech) sector in the first five months of the year 2026. Of these, about 28,900 employees have been retrenched in the month of May alone.
According to the report of Layoff.FYI, a total of 1,16,739 tech employees have lost their jobs so far this year. The report said that only 10,577 job cuts were announced in May 2025, while in May this year this number increased to 28,889, which is more than double compared to last year.
However, March has been the worst month in terms of layoffs so far this year. More than 46,000 workers were laid off in March.
According to the report, big companies like Uber, Meta, Cloudflare, Intuit, PayPal, Cisco, Quora and Coinbase laid off employees on a large scale.
Uber revealed that it cut 23 percent of the workforce in its “People and Places” division. However, this accounts for less than 1 percent of the company’s global workforce of approximately 34,000 employees.
Uber’s “People & Places” division manages functions related to human resources, recruiting, workplace facilities, and company culture.
Additionally, Meta announced it was cutting 10 percent of its global workforce. Additionally, approximately 7,000 employees are being shifted to AI-based roles.
At the same time, according to multiple reports, PayPal announced in May a plan to eliminate about 20 percent of its employees, or about 4,760 positions, over the next two to three years. The company aims to reduce costs and accelerate AI adoption.
US technology company Cisco announced the layoff of about 5 percent of its global workforce, or 4,000 employees, in early May. The company wants to make this investment in AI, cyber security and other emerging areas.
At the same time, American software company Clickup also cut its employee strength by 22 percent in May as part of operational restructuring. The company aims to increase productivity by “100 times” through AI-based roles.
Many experts in the technology industry believe that most computer-based white-collar jobs could be automated in the next 12 to 18 months.
However, a recent report says that generative AI is not eliminating jobs on a large scale in India’s information technology (IT) sector, but is changing the way work is done. This is increasing productivity and increasing the demand for workers who have both technical and business skills.
–IANS
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