Q2 2026 Major Company Layoffs List
Unlike previous years which primarily targeted software engineering, Q2 2026 cuts are hitting roles horizontally, including brand marketing, HR, corporate administration, operations, and manufacturing.
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Data from corporate disclosures reveals that these changes are heavily driven by two factors: companies shifting their internal budgets to fund AI technology, and industrial sectors scaling down to absorb changing global consumer demand.
This list tracks the most recognized global corporations that executed or announced major workforce reductions during Q2 2026 (April, May, and June).
Tech, Software, & Digital Platforms
Oracle: In one of the largest corporate drawdowns of the year, Oracle implemented sweeping global job cuts this quarter impacting an estimated 30,000 roles as part of a structural reorganization to free up cash for intensive AI cloud data centers.
Meta: On May 20, Meta finalized a major restructuring cycle that eliminated 8,000 positions (approximately 10% of its global workforce). The layoffs targeted efficiency goals and helped offset a massive $135 billion capital expenditure cycle focused on AI infrastructure.
PayPal: As part of a multi-year turnaround push, PayPal announced plans in May to eliminate 4,760 positions (roughly 20% of its global workforce) to accelerate its adoption of artificial intelligence and cut operating overhead.
Cisco: The networking giant reduced its global headcount by 5%, cutting 4,000 jobs to prioritize engineering resources for advanced AI silicon architecture and enterprise cybersecurity systems.
Intuit: The financial software group behind TurboTax and QuickBooks laid off 3,000 employees (17% of its workforce) to flatten middle management layers and eliminate product overlaps.
Wix & Snap Inc.: Website builder platform Wix eliminated 1,000 jobs(20% of its workforce) in May to combat margin compression. Concurrently, Snapchat parent company Snap Inc. cut 1,000 positions (16% of staff) to flatten its ad-operations branches.
Coinbase: The digital asset exchange cut 700 jobs (14% of its workforce) in May to adjust operating margins down and reallocate capital toward AI automation tools.
ServiceNow & Uber: ServiceNow trimmed hundreds of corporate support and backend operational roles in early June. Simultaneously, Uber laid off 340 employees from its "People division," eliminating 23% of its internal HR and talent recruiting teams.
Google: In late May and early June 2026, Google quietly executed layoffs across its Google Cloud division. The cuts explicitly targeted high-level security units, including its Threat Intelligence Group and Mandiant.
Microsoft: Microsoft launched a structural reset of its Xbox Gaming division. The cuts eliminated roughly 1,000 positions and downsized active first-party development studios.
Consumer Brands, Manufacturing, & Healthcare
Volkswagen Group: At a June 18 shareholder meeting, CEO Oliver Blume confirmed that 19,000 German positions are being eliminated by the close of 2026. This serves as the first major wave of a broader blueprint to shed up to 50,000 roles by 2030, realigning assembly lines with cooling global electric vehicle (EV) demand.
General Motors: GM confirmed it laid off 500 to 600 salaried Information Technology workers across its major offices in Austin, Texas and Warren, Michigan to reshape its internal IT skill sets.
Takeda Pharmaceutical: The Japanese multinational drug manufacturer detailed a major corporate centralization plan in May, moving to phase out 4,500 roles globally across its corporate hierarchy to optimize spending.
Whitbread (Premier Inn): The UK-based hospitality and hotel conglomerate finalized a massive cost-saving initiative in April, resulting in 3,800 redundancies across its property and restaurant networks.
Evonik: Facing an extended slump across raw materials markets and elevated European energy pricing, the specialty chemicals manufacturer expanded its ongoing restructuring program on June 18 to cut 3,200 global jobs.
Nike: The global sports apparel brand cut 1,400 positions(about 2% of its workforce) in April. The cuts explicitly targeted back-office corporate technology, brand marketing, and supply chain management divisions while completely shielding retail store staff.
Finance & Infrastructure Services
Spirit Airlines: Following its sudden operational shutdown on May 2, the airline laid off its entire global workforce of roughly 17,000 employees (with initial state WARN notices tracking 14,000 US-based personnel) as the company moved to permanently wind down operations.
Kyndryl: The IT infrastructure services giant announced a major "workforce rebalancing" alongside its earnings report in May, booking $200 million in severance costs which translates to an estimated 10,000 job cuts globally.
Standard Chartered: At its investor briefing in mid-May, the multinational banking giant announced it is cutting 15% of its corporate functions, amounting to 7,800 back-office roles, as it transitions operations toward automated AI platforms.
Media & Entertainment
The BBC: The British public broadcaster announced an administrative restructuring plan aiming to cut between 1,800 and 2,000 positions (nearly 10% of its workforce) to address significant local funding and operational pressures.
Walt Disney Company: Disney executed corporate downsizing affecting 1,000 positions in April, leaning heavily on staff reductions within its global marketing, regional administration, and entertainment distribution divisions.
Ubisoft: The French video game publisher cut 380 employees on June 10 and downsized regional development studios in Barcelona, San Francisco, Winnipeg, and Belgrade to lower fixed engineering costs.
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