May 14, 2026 Global tech layoffs have surged again in 2026, with more than 100,000 jobs already cut by early May. Roughly 81,700 of those cuts occurred in the first quarter alone, the highest quarterly total since early 2023. This was followed by another 20,000 layoffs in the opening weeks of the second quarter, according to data compiled by Layoffs.fyi.
The spike marks a clear reversal from the relative stability seen over the past two years. In 2025, quarterly layoffs ranged between 27,000 and 37,000, while 2024 saw a steady decline from about 57,000 cuts in the first quarter to just over 13,000 by the end of the year.
The latest wave has affected major technology firms, including Meta, PayPal, and Cloudflare, all of which have announced significant job reductions in recent months. The cuts reflect a broader industry shift toward cost control and increased investment in artificial intelligence, as companies reallocate resources toward areas expected to drive future growth.
While the current numbers are significant, they remain below the peak of the previous downturn. In early 2023, layoffs exceeded 160,000 in a single quarter, marking the height of a major post-pandemic correction across the sector. Still, the pace of cuts in 2026 suggests that the industry may be entering another sustained period of restructuring.
The pattern reflects a familiar cycle. After a period of hiring expansion and subsequent stabilization, companies are again adjusting headcount to align with shifting priorities, particularly around AI infrastructure, automation, and operational efficiency.
At the current trajectory, 2026 could approach the scale of layoffs seen in earlier downturns. More than 260,000 jobs were cut across the tech sector in 2023, and early indicators suggest this year may follow a similar path if the trend continues.
