tech
US Tech Groups Cut 140,000 Jobs Despite AI Spending Boom
Investment spree is reshaping Silicon Valley while wider US jobs market holds steady
TL;DR
- Nearly 140,000 jobs have been cut in the US tech industry since the start of 2026.
- Amazon, Oracle, Meta, and Microsoft account for almost 50,000 of these job losses.
- Companies are investing heavily in AI infrastructure, with the Big Four hyperscalers planning $725bn in capital expenditure.
- Some attribute layoffs to AI-driven productivity, while others suggest it's a pretext for rectifying past overhiring.
- AI startups like Anthropic and OpenAI are rapidly expanding their workforces, offsetting some industry-wide cuts.