May Mayhem 2026: Nearly 30,000 tech jobs were wiped out

As we progress through 2026, the tech sector finds itself grappling with significant workforce reductions, with over 100,000 employees laid off globally. Major players such as Meta, Cloudflare, and LinkedIn have made substantial cuts as they pivot towards integrating artificial intelligence into their business strategies. In May alone, more than 28,000 tech jobs were eliminated, according to Layoff.fyi, a site dedicated to tracking layoffs. Meta led the charge, slashing 10% of its global workforce, which translates to approximately 8,000 jobs. In a bid to enhance automation and develop next-gen digital products, Meta has also transitioned around 7,000 employees to AI-centric projects. Following Meta's lead, PayPal announced layoffs affecting 4,760 employees, while Cisco also reduced its workforce by over 4,000 as it aims to channel more resources into AI initiatives. Cisco CEO Chuck Robbins emphasized that success in the AI landscape will depend on companies' ability to focus investments on high-demand areas. PayPal is not stopping at current layoffs; it is considering a further workforce reduction of about 20% in the next few years as part of its AI expansion plans. Intuit also made headlines by laying off 3,000 employees, which is roughly 17% of its total workforce, as it seeks to streamline operations. LinkedIn has joined the growing list of companies implementing layoffs, cutting 875 jobs as it refines its operations to prioritize AI-driven solutions. Similarly, Cloudflare announced a reduction of over 1,100 positions globally to adapt to the accelerating adoption of AI within its framework. Wix also made the tough decision to reduce its workforce by 20%, impacting over 1,000 employees. Along with these notable layoffs, other companies like Ticketmaster, Zoominfo, Adda247, and Truecaller have also announced job cuts throughout May. As June approaches, concerns regarding further layoffs loom large over the tech industry, raising questions about the future workforce landscape.