The tech industry is undergoing a significant transformation as layoffs surpass 73,000 in 2026, affecting 95 companies. Meta Platforms, led by Mark Zuckerberg, is set to eliminate 8,000 jobs, which constitutes about 10% of its global workforce, with layoffs scheduled for May 20. Snap Inc. is also making cuts, reducing its workforce by 1,000 jobs, or 16%, as part of a restructuring aimed at enhancing efficiency through AI. Oracle has announced substantial layoffs impacting 30,000 roles globally, including 10,000 in India, as the company reassesses its AI investments. Additionally, Atlassian cut 1,600 jobs, or 10% of its workforce, to adapt to the evolving demands of AI and enterprise customers. These layoffs reflect a broader trend in the tech sector, where automation and AI are reshaping job roles and required skills.