Tech layoffs reached 45,363 globally in 2026, with 9,238 jobs eliminated due to AI and automation, according to RationalFX. The American fintech company Block led the cuts with 4,000 layoffs, reducing its workforce from 10,000 to 6,000 employees. CEO Jack Dorsey attributed the decision to AI tools' growing capability to handle tasks previously performed by humans.

Other major companies implementing AI-driven layoffs include WiseTech Global (2,000 cuts), Livspace (1,000), eBay (800), and Pinterest (675). These firms cite generative AI and large language models as dramatically increasing productivity in software engineering and operations. Pinterest's 15% workforce reduction reflects a strategic pivot toward AI-focused products and teams.

The geographic impact shows Seattle leading with 16,590 affected employees, followed by San Francisco with 9,395 layoffs. Sydney ranks among the most impacted cities outside the US after WiseTech Global's 2,000 position eliminations. Analysts warn that if current layoff rates continue, total reductions could reach 264,730 by year-end.