- Over 100,000 tech jobs were cut globally in the first five months of 2024
- May saw 28,889 layoffs, more than double from May 2023, per Layoff.fyi
- Major firms like Meta, PayPal, Cisco, and Intuit announced large workforce reductions
Jobs cuts in the technology sector continue to reach huge numbers, with over 1,00,000 layoffs in just five months. Several big names in the industry have announced job cuts over the past two months, including Uber, Meta, Cloudflare and Intuit.
In the month of May, more than 28,000 roles were slashed, as per Layoff.fyi. This is over double the number in the same period last year. The tracker revealed that 10,577 jobs cuts were announced in May 2025, compared to 28,889 last month.
A total of 116,739 tech employees have been laid off, the tracker stated.
Also Read: Oracle Layoffs: Massive Restructuring Enters Final Phase; 18% Workforce Impacted
March was the worst month this year in terms of job cuts, with over 46,000 mass layoffs.
In terms of numbers, PayPal, Cisco, Meta and Intuit slashed thousands of roles.
Uber revealed it was laying off 23% of its staff in the company's People and Places Division, which looked after human resources, recruitment, workplace facilities and culture.
The job cuts comprised less than 1% of the rideshare company's 34,000 employees globally, according to an Uber spokesperson.
As for Cisco, the firm announced 4,000 job cuts, comprising almost 5% of its global workforce in early May. The Silicon Valley giant said it was redirecting investment into artificial intelligence, security and related sectors. The move came on the same day Cisco posted its highest-ever quarterly revenue: $15.8 billion, an increase of 12% from a year earlier, as per the San Francisco Chronicle.
Last month, PayPal put out plans to eliminate almost 20% of its workforce over the next two to three years, amounting to roughly 4,760 roles. The move was taken to cut costs and speed up AI adoption.
Also Read: Google Layoffs: Threat Intelligence, Mandiant Teams Hit By Fresh Job Cuts Amid AI Shift
Meta announced it was firing 10% of its global workforce and shifting another 7,000 into roles geared towards AI initiatives.
Intuit, the parent company of Credit Karma, TurboTax and QuickBooks, also laid off 3,000 employees, citing a need to streamline operations. It denied that the decision was influenced by AI adoption. “Everything was about how do we become more effective,” Inuit CEO Sasan Goodarzi told CNBC.
Firms like Quora, Coinbase and Cloudflare have also announced job cuts. The cuts have sparked concerns about whether generative AI can replace workers in many firms.
Companies With Major Layoffs
- Meta - 8000
- Paypal - 4760
- Cisco - 4000
- Intuit - 3000
- Cloudflare - 1100
- Wix - 1000
- LinkedIn - 875
- Bill.com - 709
- Freshworks - 500
- GitLab - 350
- Ticketmaster - 350
- Innovacer - 340
- Arctic Wolf - 250
- Adda247 - 200
- SentinelOne - 230
- Staffbase - 176
- Upwork - 151
- Kraken - 150
- Credit Karma - 117
- Rapyd - Not disclosed
- Webflow - Not disclosed
- PocketFM - 100
- Lighttricks - 75
- NetApp - 77
- Interview Kickstart - 50
- Uber - 23% of its People's division (less than 1% of workforce)
- ClickUp - 22% of workforce
- BigID - 20% of workforce
- Manhattan Associated - 6% of workforce
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