Synopsis
Tech companies are implementing significant workforce reductions, with over 93,000 roles cut in early 2026, driven by AI and automation. Major players like Meta, Coinbase, and Freshworks are restructuring, leading to leaner teams and a shift towards efficiency.Recent job cuts include SaaS company Freshworks and cryptocurrency exchange Coinbase. Most companies are attributing these job cuts to artificial intelligence (AI) and automation leading to teams being completely restructured and made leaner to shore up’ declining revenues.
By comparison, total layoffs for all of 2025 stood at 124,201, according to tech layoffs tracking platform Layoffs.fyi.
Per the platform, companies such as Nayax, Taboola, Productboard, and Cars.com have reduced between 3% and 30% of their workforce. More than 80,000 job cuts have come from US-headquartered corporations, followed by 3,800 layoffs by Australian companies.
Most of these layoffs are concentrated in the consumer sector, where 23 companies, including Meta, Epic Games, Pinterest, and Vimeo, have cut a total of 14,705 jobs. This is followed by the finance sector, where 17 companies have collectively reduced over 5,097 roles.
Here are some of the major, most recent layoffs:
Freshworks to lay off 11% of workforce
ET reported on Wednesday that software-as-a-service (SaaS) company Freshworks is laying off 11% of its global workforce, impacting nearly 500 employees, as it increases the use of AI across operations.
The Nasdaq-listed company expects a one-time restructuring cost of $8 million in the April-June period this year. CEO Dennis Woodside said no further layoffs are planned, with a focus instead on maintaining a leaner team. This is the company’s first major workforce reduction since 2024, when it cut around 13% of staff.
Freshworks posted an operating loss of $8.1 million in Q1 2026, narrowing from $10.4 million a year earlier, after briefly turning profitable in Q4 2025 due to one-time gains.
Coinbase trims 14% of its workforce; flattens hierarchy
CEO Brian Armstrong said on Tuesday that Coinbase will cut 14% of its workforce, citing ongoing crypto market volatility and the growing integration of AI into workflows. These layoffs come amid the company's quarterly business fluctuations, prompting a push to reduce costs and improve efficiency.
As part of the restructuring, the Cryptocurrency exchange will flatten its organisational structure to five layers below the CEO and chief operating officer (COO) and eliminate roles focused solely on management. Leaders will be expected to operate as player-coaches, combining execution with oversight. The company will also move toward AI-native pods, including smaller teams and in some cases one-person units, designed to use AI tools to deliver output at scale.
Meta to cut more than 8,000 jobs
The Mark Zuckerberg-led Meta Platforms is reportedly planning to lay off around 8,000 employees, impacting nearly 10% of its global workforce this month. Per a Reuters report, additional layoffs are under consideration for the second half of the year. According to Layoffs.fyi, the Facebook and Instagram parent had already cut 2% of its workforce in January, affecting around 1,500 employees.
Snapchat cuts 1,000 jobs
Photo-sharing social media platform Snapchat’s parent announced plans to cut 1,000 jobs, about 16% of its full-time workforce, and eliminate more than 300 vacant roles.
CEO Evan Spiegel said the restructuring is aimed at improving efficiency and accelerating growth, with rapid advances in AI playing a key role by reducing repetitive tasks, increasing speed, and enhancing services for users, partners, and advertisers.
Oracle layoffs impact a third of India employees
In April, Oracle carried out layoffs impacting around 30,000 roles globally, including about 10,000 in India. The cuts were largely concentrated in technology functions as the company reassesses returns on its AI-led investments. At Oracle Financial Services Software, around 1,000 employees, or roughly 10% of its workforce, were laid off. Overall, the reductions represent about 20% of Oracle’s India workforce of around 50,000. The company had a global headcount of 162,000 as of May 2025.
Where do Indian IT companies stand?
Major Indian IT services companies Tata Consultancy Services, Infosys, Wipro, HCLTech, and Tech Mahindra together reported a net reduction of 6,981 employees in FY26, compared to a net addition of 12,718 a year earlier.
TCS led with 23,460 job cuts, while Tech Mahindra reduced 1,108 roles. Infosys, Wipro, and HCLTech continued to hire at a measured pace, reflecting tighter control over utilisation and margins amid demand uncertainty, slower client decisions, and rising AI-led efficiencies.
This has further slowed hiring in FY26, reversing the modest recovery seen in FY25. The sector is shifting to a skills-first, efficiency-focused model, with companies prioritising AI-native and specialised talent over workforce-led growth.
As a result, hiring momentum remains weak, with active tech job openings at 110,000 in April 2026, down 8% from March. Hiring, however, has not fallen to FY24 levels, when over 69,000 jobs were lost, but growth visibility remains limited.
Layoffs across India’s tech startups are also increasing. Chennai-based SaaS startup SuperOps let go of around 60 employees, about 30% of its workforce, as it pivots to an AI-first model, and Pocket FM reportedly has cut 10% of its staff.
