Tech layoffs are at their worst since 2023, and AI is a big reason [Yahoo! Finance]
International Business Machines Corporation (IBM)
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Source: Yahoo! Finance
Elsewhere, Challenger said AI "is costing jobs" even if it can't yet fully replace workers. AI-driven job displacement is real, and it's wreaking havoc in tech. US tech layoffs are now at their worst year-to-date point since 2023, according to a new Challenger, Gray & Christmas report. The outplacement firm said US-based tech companies announced 52,050 job cuts so far in 2026, including 18,720 layoffs in March. That first-quarter figure was up 40% from the year before. "Companies are shifting budgets toward AI investments at the expense of jobs," Challenger said in a release. "The actual replacing of roles can be seen in Technology companies, where AI can replace coding functions." Challenger said AI was the leading reason for job cuts across industries, accounting for 25% of the total cuts in March. Overall, Challenger said US-based employers announced 60,620 job cuts in March, down 78% during the same period last year, and overall job cuts fell year over year in the first
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