1.76 lakh layoffs in 9 months: AI, cost cuts and the changing world of work

The global jobs market has spent much of 2026 answering an uncomfortable question: How secure is a job when even some of the world's biggest companies are restructuring?

From Amazon and Oracle to Volkswagen, Microsoft, Meta and Uber, thousands of employees have faced layoffs this year as companies cut costs, flatten organisational structures, rethink their businesses and redirect investment towards artificial intelligence (AI).

And the layoff story is no longer limited to Silicon Valley.

Technology companies have announced some of the biggest cuts, but banks, consumer brands, media organisations, automakers, gaming companies and retailers have also reduced their workforces. In some cases, companies have announced thousands of job cuts at once. In others, the exact number remains undisclosed.

Amazon announced around 16,000 job cuts in January, with the company saying the reductions were part of organisational changes aimed at reducing layers and bureaucracy. 1.76 lakh layoffs in 9 months: What is happening to the global jobs market (AI generated image)

Atlassian announced around 1,600 layoffs, or about 10 per cent of its workforce, saying the move would help fund investment in AI and enterprise sales.

By September, Uber had announced plans to cut around 3,300 jobs, or 10 per cent of its workforce. Unlike several technology companies, Uber's CEO did not directly blame AI for the cuts, instead pointing to the need to flatten management layers and respond to changes in the mobility market.

But perhaps the biggest workforce-reduction story of the year has emerged outside technology.AUTO JOBS UNDER PRESSURE

Volkswagen has become one of the most significant examples of how restructuring is spreading into traditional industries.

The company's transformation plan includes another 50,000 job reductions worldwide, on top of an ongoing programme involving around 50,000 jobs. These are planned workforce reductions and should not be described as 100,000 people already laid off.

Porsche, another Volkswagen Group company, has separately agreed to an additional 5,000 job cuts, taking its agreed workforce reduction to around 9,000 by 2035. Jaguar Land Rover has also announced plans to cut around 4,000 jobs over two years, adding another major automotive name to the 2026 layoff tracker. 1.76 lakh layoffs in 9 months: What is happening to the global jobs market (AI generated image)

The automotive cuts come as manufacturers face high costs, excess capacity, changing consumer demand, tariffs and intensifying competition, particularly from Chinese electric vehicle makers.AI IS CHANGING THE WORKFORCE, BUT IT IS NOT THE ONLY REASON

AI has become one of the defining themes of the 2026 jobs market. Companies including Atlassian and Intuit have explicitly linked workforce changes to their efforts to increase investment in AI. Intuit, for instance, announced around 3,000 job cuts, or 17 per cent of its global workforce, while saying it wanted to streamline operations and focus on key areas including AI.

Companies are also citing automation, AI investment and organisational restructuring as reasons for reductions. But it would be too simplistic to say AI is responsible for every layoff.

Companies are also responding to weaker demand, high operating costs, post-pandemic over-hiring, changing business models and pressure to improve efficiency. Uber's announcement is one example: the company said it wanted a leaner organisation with fewer management layers, while also dealing with the growing challenge posed by autonomous vehicles.

The result is a jobs market where companies can simultaneously cut jobs in one area and hire aggressively in another.advertisementTHE GAMING INDUSTRY RESETGaming has also been caught in the restructuring wave.

Microsoft announced around 4,800 job cuts in July, including a major restructuring of its Xbox business. Reuters reported that the gaming restructuring involved 3,200 job cuts, including 1,600 employees laid off at the time of the announcement.

Xbox subsequently announced another 268 affected roles in September, adding to a year of repeated restructuring across the gaming business. 1.76 lakh layoffs in 9 months: What is happening to the global jobs market (AI generated image)

The changes underline the pressure on large gaming companies to balance huge development and infrastructure costs with profitability while continuing to invest in new games, platforms and technologies.INDIA IS NOT INSULATED FROM THE GLOBAL LAYOFF WAVE

The global workforce reset has also reached India.

Adidas confirmed in September that it had reduced roles within its India Technology organisation as part of efforts to simplify operations. The company said the impact was less than 20 per cent of its India Technology organisation, but did not disclose the exact number of affected employees.

Uber's global restructuring has also affected employees in India, although India-specific numbers should be kept separate from the company's global figure.

For Indian jobseekers, these developments are significant because multinational companies often maintain large technology, finance, support, and corporate teams in the country.

However, a global layoff number should never automatically be presented as an India layoff number.FROM AMAZON TO DELL, ORACLE TO META AND MORE

Here is a snapshot of major workforce reductions announced or reported between January 1 and September 23, 2026:CompanyMonthReported job cutsSectorAmazonJanuary16,000Technology/E-commerceNikeJanuary775RetailDowJanuaryAbout 4,500ChemicalsMastercardJanuaryAbout 1,400FinancePinterestJanuaryLess than 15%TechnologyCitigroupJanuaryAbout 1,000FinanceAutodeskJanuaryAbout 1,000TechnologyBlockFebruaryMore than 4,000FintechHeinekenFebruaryUp to 6,000Consumer goodsGoogleFebruaryAbout 800TechnologyAmazon RoboticsMarch100+Robotics/TechnologyMorgan StanleyMarchAbout 2,500FinanceAtlassianMarch1,600TechnologyDellMarchAbout 11,000TechnologyOracle2026About 21,000 in earlier restructuringTechnologySnapAprilAbout 1,000TechnologyDisneyAprilAbout 1,000EntertainmentBBCAprilAbout 1,800–2,000MediaProcter & GambleAprilUp to 7,000Consumer goodsIntuitMayAbout 3,000Technology/FinanceMetaMayAbout 8,000TechnologyPayPalMayAbout 4,760FintechCiscoMayAbout 4,000TechnologyBritish American TobaccoJuneAbout 9,000Consumer goodsMicrosoft/XboxJulyAbout 4,800 globally; around 1,600 Xbox-relatedTechnology/Gamingmonday.comJulyAbout 620TechnologyPorscheJuly5,000 additional; about 9,000 agreed overallAutomobilesAmazon AGIJulyNumber undisclosedAI/TechnologyEtsyAugustAbout 220E-commerceAppleAugustAbout 200TechnologyVolkswagen GroupSeptemberAnother 50,000 plannedAutomobilesUberSeptemberAbout 3,300 globallyTechnology/MobilityJLRSeptemberAbout 4,000 over two yearsAutomobilesOracleSeptemberNumber undisclosedTechnologyAdidas IndiaSeptemberLess than 20% of India Technology teamRetail/TechnologyXboxSeptember268Gaming

Note: The approximate 1.76 lakh figure is calculated only from the numerical job-cut figures listed above. Percentage-based cuts, undisclosed layoffs and some overlapping/ongoing restructuring programmes are not included. It should therefore not be read as the total number of people laid off globally in 2026.

There is also an important distinction between layoffs and a decline in overall employee headcount.

For example, TCS's reported 23,460 headcount decline should not be described as 23,460 layoffs unless those employees are specifically identified as having been laid off. Similarly, Volkswagen's planned 50,000 additional reduction should not be presented as 50,000 people already losing their jobs.WHAT CAN EMPLOYEES EXPECT NEXT?

If the first nine months of 2026 offer any indication, employees may have to prepare for a jobs market where roles change faster than companies themselves.

AI will remain an important part of that shift. But companies are also likely to continue flattening management structures, consolidating teams, automating repetitive work and redirecting spending towards businesses they consider strategically important. 1.76 lakh layoffs in 9 months: What is happening to the global jobs market (AI generated image)

That could mean fewer opportunities in some traditional roles, while creating demand for people who understand AI tools, data, technology and specialised business functions.

The key change may therefore be less about the disappearance of work altogether and more about which skills companies are willing to pay for.IS THE NEED FOR A SIDE JOB GAINING MOMENTUM?

The layoff wave also raises another question for employees: Should one salary be the only source of income?

A side job cannot guarantee protection from a layoff. Nor does every employee have the time or financial circumstances to take on additional work.

But freelance writing, consulting, tutoring, content creation, design, coding, digital services or another income-generating skill can give some workers an additional financial option if their primary job becomes uncertain.

There is another benefit: a side project can also become a way of building skills and a professional network outside one's employer. 1.76 lakh layoffs in 9 months: What is happening to the global jobs market (AI generated image)

That does not mean employees need to turn every hobby into a business or work two jobs indefinitely. Rather, the changing employment landscape makes career diversification increasingly relevant.

For workers, this could mean developing one additional marketable skill, maintaining professional connections outside the workplace, keeping a portfolio updated, or exploring freelance opportunities before they urgently need them.THE BIGGER SHIFT

The 2026 layoff wave is ultimately about more than the number of jobs being cut.

Companies are changing how they operate, where they invest and what they expect from their workforce. AI is accelerating some of those changes, but cost pressures, restructuring, competition and changing consumer behaviour are equally important.

For employees and jobseekers, the challenge is therefore not simply to predict which company will announce the next layoff.

It is to understand where the jobs are moving, which skills are gaining value, and how to remain employable when the definition of a job keeps changing. And with three months of 2026 still remaining, the year's layoff story may not be over yet.- EndsPublished By: Karan YadavPublished On: Sep 23, 2026 18:05 ISTREAD | Is 45 the new layoff age in corporate India's job market?