Tech Layoffs Continue in 2026 as Job Cuts Near 158,000 Across Major Companies

Tech layoffs approach 158,000 in 2026

Job reductions across the technology sector continued through June, with companies including Lucid and Bungie announcing fresh workforce cuts. Although layoffs have slowed compared with the previous month, businesses such as Rivian, Rackspace and Robinhood have also reduced staff during June.

Oracle reported the largest workforce reduction of the year. In its annual financial filing submitted on June 23, the company disclosed that it eliminated approximately 21,000 positions over the past year, representing about 13% of its employees. Oracle stated that the growing use of artificial intelligence throughout its operations has contributed to workforce reductions and could continue to do so.

California Governor Gavin Newsom recently introduced a tool designed to monitor AI's effect on employment across the state. According to the announcement, the initiative aims to help California prepare for workforce changes through policy and governance.

Layoff tracker TrueUp estimates that nearly 155,000 technology jobs have been cut so far in 2026, compared with more than 245,000 layoffs recorded during 2025. The tracker notes that several companies have linked workforce reductions to increased investment in artificial intelligence.

Companies announcing layoffs in June Bungie: Sony Interactive Entertainment confirmed significant job cuts affecting teams working on Destiny, Marathon and support operations. No employee count was disclosed. Lucid: The electric vehicle maker said it would reduce its workforce by around 18% while COO Marc Winterhoff departs the company. The move is intended to improve profitability amid stronger competition. Rackspace: The cloud services company eliminated 750 jobs, about 15% of its workforce, as it shifts focus toward AI. Rivian: The EV manufacturer reduced its workforce by roughly 2%, primarily within service and customer-facing teams. Robinhood: The trading platform plans to cut about 10% of its workforce, or around 290 positions, as part of a restructuring effort. Salesforce: At least 86 employees in California were laid off, with reports indicating additional reductions in Washington and international offices.

The report also lists workforce reductions announced earlier in 2026 by companies including Groupon, Wix, ClickUp, Intuit, Meta, Amazon, Cisco, LinkedIn, Cloudflare, Coinbase, Microsoft, Oracle and several others.