Global Layoff Wave Continues: Why Amazon, Meta, Oracle and 40+ Companies Are Cutting Jobs

More than 40 major global companies have announced layoffs in 2026 as businesses across technology, banking, retail, manufacturing and healthcare continue to reduce costs, reorganise operations and invest heavily in artificial intelligence (AI).

According to a Business Insider report, industry giants including Amazon, Meta, Oracle, UPS, Walmart, Citi, Dell, Visa, Nike and Standard Chartered are among those trimming their workforce.

While AI has emerged as a major factor behind many of the job cuts, companies have also cited restructuring, slowing business growth and changing consumer demand as key reasons.

AI Is Becoming a Major Driver of Layoffs

Artificial intelligence is increasingly replacing routine and repetitive work across several industries.

Companies including Block, Coinbase and Standard Chartered have acknowledged that AI-led productivity improvements have contributed to workforce reductions.

However, AI is not the only reason behind the layoffs.

Many organisations are simplifying operations, consolidating teams, reducing costs and redirecting investments toward automation, cloud computing and digital transformation.

Biggest Layoffs Announced in 2026

Several multinational companies have announced significant workforce reductions this year.

UPS

• 30,000 jobs to be eliminated.
• Company restructuring its logistics network and reducing operating costs.

Oracle

• Around 21,000 employees (13% of workforce) affected.
• AI adoption and organisational restructuring cited as key reasons.

Citigroup

• Approximately 20,000 positions being eliminated.
• Part of a broader effort to simplify operations and improve efficiency.

Amazon

• Roughly 16,000 corporate roles cut.
• Focus on reducing bureaucracy and increasing AI-driven productivity.

Dell Technologies

• Around 11,000 employees (10% of workforce) laid off.
• Workforce reduction linked to restructuring.

Estée Lauder

• Up to 10,000 jobs being eliminated.
• Retail slowdown and restructuring programme behind the move.

British American Tobacco

• Around 9,000 positions cut.
• Greater technology adoption and operational efficiency initiatives.

Heineken

• Between 5,000 and 6,000 jobs being reduced.
• Productivity improvements and cost optimisation cited.

Visa

• Around 2,600 employees (7% of workforce) affected.
• AI transformation and operational changes driving the cuts.

WiseTech Global

• Approximately 2,000 jobs eliminated.
• Company attributes the decision largely to AI-driven productivity gains.

Atlassian

• Around 1,600 employees laid off.
• Restructuring to increase AI investments.

Nike

• About 1,400 jobs cut.
• Automation, operational streamlining and business turnaround strategy.

Cloudflare

• More than 1,100 employees laid off.
• AI-driven restructuring programme.

Meta

Meta has also announced multiple rounds of layoffs linked to AI investments, organisational restructuring and cost optimisation, although it has not disclosed the total number of affected employees.

Other Companies Reducing Workforce

Several other multinational companies have also announced layoffs during 2026, including:

• Walmart
• LinkedIn
• Target
• Expedia
• Freshworks
• Coinbase
• Crypto.com
• Pinterest
• Workday
• Zillow
• eBay
• GoPro
• Groupon
• T-Mobile
• Verizon
• Kenvue
• Papa Johns
• Patreon
• Saks Global
• Sprout Social
• Wix
• Lululemon

More Layoffs Could Be Ahead

The current wave of layoffs may not be over.

According to the report, more than 100 companies in the United States have already filed WARN (Worker Adjustment and Retraining Notification) notices, which employers must submit before conducting large-scale layoffs or plant closures.

Some of these filings relate to previously announced job cuts, while others suggest additional layoffs could take place in the coming months.

Why Companies Are Cutting Jobs

The latest round of workforce reductions is being driven by three major factors:

• Rapid adoption of AI and automation
• Business restructuring and cost optimisation
• Economic uncertainty and shifting consumer demand

Many organisations are reducing traditional roles while increasing investments in artificial intelligence, cloud infrastructure and digital transformation.

AI Will Continue to Reshape Employment

A recent World Economic Forum survey cited in the report found that 41% of employers globally expect AI to reduce parts of their workforce over the next five years.

At the same time, demand is expected to rise significantly for professionals with expertise in:

• Artificial Intelligence
• Machine Learning
• Data Science
• Big Data Analytics
• Cybersecurity
• Financial Technology (FinTech)
• Cloud Computing
• Automation Engineering

The evolving job market suggests that while many conventional roles may disappear, technology-focused careers are expected to witness sustained growth through 2030.