Tech Layoff Rate Hits 20-Year High as Oracle, Microsoft Cut Jobs for AI

MacroIndustry Impact 4
โดย 24/7 Wall St.·US·Read original
Summary · why it matters

The information sector's layoff rate jumped to 2.3% in June, surpassing peaks from the 2008 financial crisis and 2001 recession, as 63,000 workers were cut. Oracle eliminated 21,000 jobs, representing 13% of its workforce and one-third of the quarter's total, explicitly citing AI deployment in its 10-K filing. Microsoft cut roughly 4,800 positions, or 2.1% of its global workforce, while Cisco and Intuit redirected labor savings into AI infrastructure. AI accounted for 23% of all 2026 U.S. job cut announcements through June, though some companies may use the label to dress up ordinary cost-cutting.

Impact on stocks 5

Cloud & Digital Infrastructure▼ · 2 stocks
Oracle Corporation
ORCL
▼ NegativeCapitalrelevance

Oracle eliminated 21,000 jobs, 13% of its workforce, explicitly citing AI deployment in its 10-K filing.

Intuit Inc
INTU
± MixedCapitalrelevance

Intuit redirected labor savings into AI infrastructure, but no direct impact on its own operations.

Artificial Intelligence▼ · 2 stocks
Microsoft Corporation
MSFT
▼ NegativeCapitalrelevance

Microsoft cut roughly 4,800 positions, or 2.1% of its global workforce, as part of AI-driven job reductions.

Cisco Systems Inc
CSCO
± MixedCapitalrelevance

Cisco redirected labor savings into AI infrastructure, but no direct impact on its own operations.

Consumer Discretionary▲ · 1 stocks

Theme Impact 3

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