The AI Layoff Wave Is Becoming a Powder Keg

Tech companies are reporting record profits and revenue while cutting tens of thousands of jobs, with AI named as the official reason. Roughly 150,000 workers have been laid off across the sector so far this year — about 974 per day, 44% faster than 2025, according to tracker TrueUp.

Last month alone saw nearly 40,000 cuts, the highest single month in two years. With AI now the most-cited justification across every industry for the third straight month, the gap between soaring earnings and shrinking headcounts is fueling growing public anger.