US tech firms cut 140,000 jobs in 2026

During the year 2026, the U.S. tech sector saw the layoffs of around 140,000 employees, despite a significant rise in AI investments exceeding $725 billion in data centers and cloud computing services. These cuts come at a time when major companies such as Amazon, Microsoft, and Oracle are increasing their spending on AI infrastructure, with some executives attributing the layoffs to changing business needs following the COVID-19 pandemic and corporate investments in technology. Although some companies blamed AI to justify job cuts, their performance was notably weaker— the Nasdaq Index fell by about 10% after the announcements. Meanwhile, AI startup companies are trending towards increasing hiring, with substantial expansion in their teams.

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