Layoffs
Massive tech layoffs continue: Cisco, PayPal, Cloudflare slash thousands of jobs
Just over five months into 2026, the global technology sector has already witnessed the loss of 108,724 jobs, with major companies continuing workforce reductions as artificial intelligence-driven restructuring reshapes the industry.
The latest round of layoffs includes 4,000 job cuts at Cisco, alongside significant reductions at PayPal and Cloudflare.
Industry analysts say the rapid adoption of artificial intelligence remains one of the key drivers behind the ongoing wave of job losses, as companies redirect investments toward automation, AI infrastructure, and high-growth technology segments.
Cisco to remove 4,000 employees
Cisco recently confirmed that it will reduce its workforce by nearly 4,000 employees, citing a strategic shift toward AI-focused growth areas.
In a company blog post, Cisco said: "The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest."
The company added: "With this, we are making changes today that will result in the reduction of our overall workforce in Q4 by fewer than 4,000 jobs, representing less than 5 percent of our total employee base."
Explaining the rationale behind the move, Cisco said:
"While we are reducing roles in some areas, we are making clear, strategic investments — particularly in silicon, optics, security, and in our employees’ use of AI across the company."
Similar cuts across major firms
According to layoff tracker Layoffs.fyi, PayPal has reduced 4,760 employees, while Cloudflare has cut 1,100 jobs.
Several other major companies, including LinkedIn, Ticketmaster, ZoomInfo, Adda247, Bill.com, Arctic Wolf, Upwork, and Truecaller, also announced layoffs in May.
Full list of companies that announced layoffs in May
Cisco — Around 4,000 employees affected
LinkedIn — 875 job cuts
Guesty — 20 employees
Breadfast — 58 roles
MRI Software — Nearly 200 employees
GitLab — Figures not disclosed
ZoomInfo — 300 employees
Adda247 — Around 200 employees
Parker — Entire workforce
Staffbase — 176 positions
Cloudflare — 1,100 jobs
Bill.com — 709 employees
Ticketmaster — 350 employees
DeepL — 250 roles
Upwork — 151 employees
Truecaller — 70 employees
Arctic Wolf — 250 workers
Pocket FM — 100 positions
LSports — 40 employees
ApnaMart — 35 employees
reAlpha — Nearly 25% workforce reduction
PayPal — 4,760 employees
Coinbase — 700 jobs
Freshworks — 500 employees
OG — Figures undisclosed
Careem — Numbers not specified
Shopify — 30 employees impacted
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