Meta, Microsoft plan 20,000+ job cuts as AI spending nears $700 billion: Report
Meta and Microsoft are planning over 20,000 job cuts as tech giants invest nearly $700 billion in AI infrastructure this year. The trend is expanding beyond Silicon Valley giants, with Nike, Snap, Salesforce, and Oracle also announcing layoffs.
Meta and Microsoft are planning significant job cuts, with Meta cutting 10% of its workforce, or around 8,000 jobs, and cancelling 6,000 open roles. Microsoft is offering voluntary buyouts to eligible US employees. The tech industry is investing heavily in AI, with Meta, Microsoft, Amazon, and Alphabet expected to spend nearly $700 billion on AI infrastructure this year. The trend is not limited to Silicon Valley giants, as Nike, Snap, Salesforce, and Oracle have also announced layoffs. Hiring is slowing for entry-level and general IT positions, while demand remains strong for AI engineers and specialised roles. Over 92,000 tech workers have lost jobs in 2026, bringing total layoffs since 2020 to almost 900,000.
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