business / news / / The Financial Express
Many companies citing AI-related cost optimisation, reallocation of resources to data centres, and post-pandemic efficiency gains as key reasons.
Oracle executed 30,000 layoffs in March 2026, representing 18% of its global workforce.
KEY POINTS
- Block reduced its workforce by 40%, citing AI efficiencies enabling smaller teams to handle more work.
- Multiple tech CEOs explicitly linked layoffs to generative AI adoption and related productivity gains.
- Major companies are simultaneously hiring aggressively in AI engineering and data centre roles despite layoffs.
- The United States is the primary region affected by these layoffs, with notable cuts in Europe and Australia.
COMPANIES
Summarized by Newsio from The Financial Express. How we summarize →