Tech Layoffs Soar to Record High in 2026 as Zillow, TikTok Cut Hundreds
Tech layoffs in 2026 have already surpassed last year's total with over 125,000 employees affected across 264 companies, according to Layoffs.fyi data. This comes after a brutal run of workforce reductions throughout the year. Zillow led the latest round of cuts, eliminating more than 500 jobs, or roughly 7% of its workforce.
The online real estate and rental platform said the restructuring was necessary to create 'a disciplined cost structure' and improve efficiency. However, a company spokesperson rejected the idea that AI was directly responsible for the job cuts, stating it was about 'better positioning Zillow for the path ahead.'
TikTok also announced layoffs, with 250 employees losing their jobs as the company closes its Nashville office. Google's cuts were more limited but illustrate how restructurings are reaching individual teams and regional offices.