Monday.com became the latest tech company to cite AI as a factor in job cuts, announcing layoffs of about 20% of its workforce (over 600 employees) as part of a restructuring plan tied to its AI-driven growth strategy. Co-founder Eran Zinman said the move was not about cost reduction or replacing people with AI, but about adapting to an AI-first vision. The company expects $45–55 million in restructuring charges but still projects up to 20% year-over-year revenue growth for 2026.

According to Financial Times analysis, U.S. tech companies have slashed nearly 140,000 jobs since the start of 2026, with Amazon, Oracle, Meta, and Microsoft accounting for almost 50,000 of those cuts as they invest heavily in AI infrastructure. Companies citing AI as a factor in job cuts have underperformed the Nasdaq by almost 10% in the 30 trading days following their announcements, suggesting market skepticism. However, AI-focused companies like Anthropic and OpenAI are hiring rapidly, and some firms are shifting headcount rather than reducing it—Meta moved 7,000 employees into AI-focused roles while cutting 8,000.

The article provides a running list of major tech companies that have announced significant layoffs in 2026 with AI as a stated factor. Examples include Microsoft (4,800 roles), Oracle (21,000 reduction over 12 months), GitLab (350 jobs, 14%), Google (1,500–3,000+ engineers via rolling cuts), Intuit (3,000 jobs, 17%), Meta (8,000 cuts plus 7,000 moved), Cisco (4,000 jobs), Cloudflare (1,100, 20%), GM (500–600 IT jobs), Coinbase (700, 14%), PayPal (4,500+ over 2–3 years), Snap (1,000, 16%), IBM (3,000–9,000), Atlassian (1,600, 10%), Dell (11,000 over fiscal year), Block (4,000, nearly half), Salesforce (under 1,000), and Amazon (16,000 in January). The common theme is companies restructuring to prioritize AI investments, often reducing layers and shifting resources, while claiming the cuts are not purely about replacing people with AI. Many of these companies are also hiring for AI-related roles, indicating a reallocation of talent rather than net reduction in some cases.