layoffs

Uber is cutting 23% of its People division staff, including recruitment and HR, to streamline operations and improve efficiency. This move, led by new President Jill Hazelbaker, aims to create a more connected and modern organization. While not directly attributed to AI, the cuts occur as Uber invests heavily in AI tools and explores their potential for automation and scaling, reflecting a broader tech industry trend.

SentinelOne’s stock dropped 12% after announcing an 8% workforce reduction to prioritize AI and data investments. CEO Tomer Weingarten described this as a deliberate evolution to create a leaner, more agile company, citing productivity gains from AI utilization. This move aligns with a broader industry trend of tech companies reallocating resources to AI, despite cautious revenue forecasts and market anxieties about AI’s impact on traditional software models.

Wix is restructuring, cutting approximately 20% of its workforce due to the rapid evolution of AI and currency exchange rate dynamics. CEO Avishai Abrahami stated this requires a fundamental re-evaluation of company operations. This move aligns with a broader tech industry trend of layoffs driven by AI automation and efficiency gains, with companies like Block, Cisco, and Meta also reducing headcount.

Meta is laying off approximately 8,000 employees, about 10% of its workforce, to aggressively pursue AI dominance. This follows previous cuts and redeployment of 7,000 staff into AI roles. While AI teams are prioritized, the restructuring aims for agility and speed. This move mirrors broader tech industry trends focused on AI investment.

Intuit, facing intensified AI competition and a tech sector downturn, announced significant restructuring, including laying off over 3,000 employees (17% of its workforce) and incurring $300-$340 million in charges. The company aims to reduce complexity and increase velocity for long-term growth, mirroring widespread tech layoffs. Despite a year-to-date stock drop, Intuit raised its 2026 forecast, anticipating adjusted EPS of $23.80-$23.85. The move involves office closures and operational streamlining.

Meta is aggressively pivoting to AI, leading to significant job cuts and a freeze on hiring. This workforce overhaul aims to offset massive AI investments, which have boosted 2026 capital expenditure guidance. While the tech industry sees similar trends driven by AI efficiency, employee anxiety at Meta is high due to uncertainty and new AI tracking tools. This restructuring reflects a broader industry shift where AI adoption is driving workforce changes, impacting employee morale and strategic direction.

Cloudflare is significantly reducing its workforce by over 1,100 employees, about 20% of staff, citing AI’s transformative impact on operational needs. This decision follows strong Q1 earnings that beat expectations. The company is shifting to an “agentic AI-first operating model,” reallocating resources to AI-centric roles. Despite positive financial forecasts, the market reacted negatively to the news, with shares dropping.

Coinbase is reducing its workforce by approximately 14% due to market volatility and the impact of AI. CEO Brian Armstrong stated the move is necessary for the company’s next growth phase, aiming for a leaner, faster, and AI-native operation. This strategic recalibration aligns with broader tech sector trends where AI’s influence is driving operational shifts and workforce adjustments.

Mixed U.S. futures reflect geopolitical tensions affecting oil, tech sector realignments with job cuts at Microsoft, Meta, and Nike, and pharmaceutical pricing pacts including Regeneron’s agreement with the White House. Starbucks’ revamped loyalty program shows success with value-seeking customers, driving point redemptions and personal cup usage.

Meta is cutting approximately 10% of its global workforce, around 8,000 employees, and freezing 6,000 positions to accelerate its AI development. This strategic pivot, aiming to enhance generative AI capabilities against competitors, follows previous reductions in metaverse divisions. The move aligns with a broader tech sector trend of workforce recalibration due to the AI revolution, with companies like Microsoft and Amazon also implementing staff adjustments. Meta’s focus is on solidifying AI dominance and leveraging internal AI for tasks previously outsourced.