Tech Layoffs 2026: 25,000 Jobs Lost In May As Companies Slash Workforce — Full List

With just two weeks into May, nearly 25,000 tech workers have already lost their jobs. Companies like Cisco, PayPal and Cloudflare have decided to let go off significant number of employees due to a number of reasons, but mainly due to the artificial intelligence (AI) boom. Over 4,700 employees were laid off by PayPal, followed by Cisco, which decided to reduce its workforce by 4,000 people, as tracked by Layoff.fyi.

PayPal is planning to cut about 20% of its workforce over the next two to three years as the company wants to focus more on artificial intelligence and reducing costs. The move, as reported by The Wall Street Journal, is said to affect around 4,760 employees. CEO Enrique Lores said the company has fallen behind its competitors in technology and now wants to invest more in AI, improve systems and simplify its business operations.

More recently, Cisco announced it would cut nearly 4,000 jobs as part of a restructuring plan focused on investing in artificial intelligence and other fast-growing areas. In a post shared on the company's website, CEO Chuck Robbins said, “The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward areas where demand and long-term value creation are strongest.”

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On May 7, Cloudflare released a statement through its official website, announcing its decision to lay off more than 1,100 employees worldwide as the company is set to increase its use of artificial intelligence in daily operations. They said, “The way we work at Cloudflare has fundamentally changed. We don't just build and sell AI tools and platforms. We are our own most demanding customer.” The company added that the job cuts are part of efforts to reorganise its business for the ever-expanding “AI-era”.

LinkedIn, Ticketmaster, Zoominfo, Adda247, Bill.com, Arctic Wolf, Upwork, and Truecaller are some of the other companies that announced layoffs in May. Here is the full list:

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