Walmart, Meta, and Amazon are among more than 30 companies that have announced job cuts so far in 2026, continuing a broad trend of workforce reductions across tech, media, finance, and retail. Walmart confirmed the cuts in a May memo to employees.
The moves come as artificial intelligence reshapes business operations across sectors. Several firms — including Block, Coinbase, and Standard Chartered — have specifically cited AI's impact as a reason for trimming headcount. Other companies cite shifting strategies or economic pressures.
Target is taking a different approach, shifting resources from its supply chain into stores as part of its new CEO's turnaround plan to improve the shopping experience. Meanwhile, more than 100 additional companies have filed WARN notices about job cuts to come, according to WARN Tracker.
A World Economic Forum survey has indicated that AI-driven automation will continue to reshape labor markets, with some roles disappearing while others emerge. The layoffs span not just technology but also media, finance, and retail sectors.
Critics argue that attributing layoffs primarily to AI can obscure other factors, such as mismanagement or shareholder pressure for cost-cutting. Some analysts question whether all cited AI shifts are truly transformative or are being used as a convenient explanation.