Tech Giants Cut 140K Jobs While Pledging $725B to AI in 2026

According to Financial Times data, U.S. tech companies have laid off approximately 140,000 employees in 2026 so far, accounting for over one-third of all announced U.S. layoffs. Amazon, Oracle, Meta, and Microsoft alone cut near 50,000 workers—about 6% of their combined workforce—while simultaneously pledging $725 billion in AI infrastructure spending this year, according to BlockBeats.

Other data shows companies attributing layoffs to AI faced a 10% stock underperformance versus Nasdaq within 30 trading days, compared to 4% for those citing other reasons. Amazon and Microsoft have stated AI adoption is not a primary driver of their workforce reductions.