Layoffs Surge: 40+ Companies Cut Thousands of Jobs Amidst AI-Driven Changes

More than 40 companies have laid off employees in 2026 so far, following a trend of significant workforce reductions across various industries. Some companies, such as Block, Coinbase, and Standard Chartered, have cited the impact of artificial intelligence as a key reason for the layoffs.

The World Economic Forum survey last year found that about 41% of companies worldwide expected to reduce their workforces in the next five years due to AI. The same survey predicted that jobs in big data, fintech, and AI will double by 2030.

Amazon is one of the companies making significant layoffs, cutting around 16,000 corporate roles globally. According to Amazon's senior vice president of people experience and technology, Beth Galetti, the move is part of broader efforts to cut back on bureaucracy inside the company.