Nearly 150,000 tech workers have lost their jobs so far in 2026 — that's 974 people every single day. And companies are doing it while posting record profits, with AI as the official excuse.

According to TrueUp, a tech job board and layoff tracker, there have been 363 layoff events at tech companies this year, affecting roughly 150,000 people. The pace is 44% faster than last year. Last month alone saw nearly 40,000 cuts — the highest single month in two years.

Outplacement firm Challenger, Grey & Christmas reports that AI was the most-cited reason for layoffs across every industry for the third month running. Not just tech — every industry.

Here's what's wild: companies aren't struggling. They're posting record revenue and profits. They're using AI as a cover to trim headcount and boost shareholder returns. The layoffs are happening even as AI adoption accelerates, with firms automating tasks that humans used to do.

The numbers are staggering. Since the start of 2025, over 300,000 tech workers have been laid off. The current pace suggests 2026 could surpass the peak of 2023, when about 260,000 tech workers were cut.

If you work in tech — or any industry that uses software, data, or customer service — your job might be next. AI tools like chatbots, code generators, and automation software are replacing roles that seemed safe just two years ago.

But critics argue it's a convenient excuse. When profits are up and revenue is growing, layoffs are a choice, not a necessity. It's a way to cut costs and boost stock prices without worrying about the human cost.

The Challenger report notes that AI-related layoffs have been happening across sectors — finance, healthcare, retail, manufacturing. It's not just Silicon Valley anymore.

Each layoff represents a person who lost their income, health insurance, and stability. The tech industry has already seen waves of burnout, with survivors doing the work of multiple people. The constant threat of being next is wearing people down.

TrueUp's tracker shows that the biggest cuts have come from companies like Amazon, Google, Microsoft, and Meta — but smaller startups are also slashing headcount. No one is immune.

Economists are watching to see if this trend slows down or accelerates. If AI continues to improve and companies keep using it as a reason to cut jobs, 2026 could be the worst year for tech employment since the dot-com bust.

For now, the message is clear: record profits and mass layoffs can coexist. And AI is the weapon companies are using to justify it.