73,200 jobs cut in Q1 2026
The past two weeks alone have seen a fresh surge in cuts across the tech and media sectors, with companies like Snap Inc., The Walt Disney Company, Meta Platforms and Oracle Corporation announcing layoffs in quick succession.
Over 73,200 tech jobs cut in Q1 2026 by 95 companies
Snap, Disney, Meta, and Oracle announce major layoffs
Layoffs tied to cost cuts and AI-driven restructuring
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Global technology layoffs are gathering pace in 2026, with more than 73,200 jobs cut in the first quarter alone by 95 companies, according to data compiled by Layoffs.fyi.
The past two weeks alone have seen a fresh surge in cuts across the tech and media sectors, with companies like Snap Inc., The Walt Disney Company, Meta Platforms and Oracle Corporation announcing layoffs in quick succession.
What began as a gradual slowdown earlier in 2026 is now turning into a sharper phase of restructuring. While each company has its own triggers, the broader trend reflects aggressive cost-cutting, operational streamlining and a deeper pivot towards artificial intelligence.
Here’s a closer look at what’s driving this wave and what affected employees are being offered.
Snap layoffs: 1,000 jobs cut, AI push in focus
Snap Inc. is planning to lay off around 1,000 employees, nearly 16 per cent of its workforce, as it looks to streamline operations and improve profitability.
CEO Evan Spiegel said in an internal memo that the restructuring is aimed at boosting efficiency and accelerating growth. He highlighted rapid advances in AI as a key factor, enabling teams to automate repetitive tasks and work more quickly.
Snap is also eliminating more than 300 unfilled roles, signalling a broader hiring slowdown. The company expects to save over $500 million annually by the second half of 2026, though severance costs are estimated between $95 million and $130 million.
US-based employees affected by the layoffs will receive four months of severance pay, continued healthcare benefits and accelerated equity vesting.
Disney layoffs: 1,000 roles likely to go
The Walt Disney Company is preparing to cut around 1,000 jobs in what marks its first major restructuring since Josh D’Amaro took over as chief executive in March.
According to reports, Disney’s severance packages vary based on role and tenure. Non-managerial employees with under five years of service will receive four weeks of pay, while those with longer tenures will get one week per year of service, capped at 52 weeks.
Managers are offered slightly higher payouts, starting at six weeks and increasing with tenure. Directors and vice-presidents are eligible for more substantial packages, ranging from 13 to 26 weeks, with additional tenure-based benefits.
Meta layoffs: Steady cuts continue in 2026
Meta Platforms continues its workforce reductions, with 198 roles set to be cut across its California offices in Burlingame and Sunnyvale.
These layoffs add to earlier cuts this year. In March, Meta reduced around 700 roles across recruitment, sales and operations, including positions in its Reality Labs division. In January, the company had already cut about 1,500 jobs tied to its augmented and virtual reality initiatives.
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The ongoing reductions highlight Meta’s continued effort to streamline teams and prioritise core and emerging technologies.
Oracle layoffs: Up to 30,000 jobs at risk globally
Oracle Corporation is reportedly undertaking one of the largest restructuring drives in this cycle, with plans to cut between 20,000 and 30,000 jobs worldwide.
India is among the hardest-hit regions, with estimates suggesting around 12,000 roles impacted. The layoffs span cloud, healthcare, sales and NetSuite divisions, pointing to a company-wide overhaul driven by heavy investment in AI infrastructure.
Severance packages in India include 15 days’ salary per year of service, an additional ex gratia payout, leave encashment and a fixed two-month salary component. Employees may also receive one month of paid “gardening leave” and insurance benefits.
In the US, Oracle typically offers four weeks of base pay for the first year of service, plus one week for each additional year, capped at 26 weeks.
Why layoffs are rising in 2026
Across companies, a few common themes are emerging. Businesses are cutting costs after years of aggressive hiring, simplifying operations and reallocating resources towards artificial intelligence and automation.
The latest wave suggests that restructuring is no longer gradual but accelerating, with companies moving quickly to adapt to changing economic and technological realities.
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