Layoffs are continuing to mount across the tech industry as Netflix and eBay become the latest major companies to cut their workforces. Netflix is laying off roughly 1,000 employees, or about 6 percent of its global workforce, with the cuts largely affecting product, technology, legal and human resources teams. eBay, meanwhile, is cutting about 1,000 positions, or approximately 9 percent of its workforce, following an earlier round of around 800 job cuts in February. While tech companies are cutting jobs at an elevated rate, nationwide layoff numbers remain relatively low.
At the same time, hiring has slowed sharply, leaving the country in what economists have characterized as a "low-hire, low-fire" labor market. Across the board, technology companies announced 165,925 job cuts through September, according to outplacement firm Challenger, Gray & Christmas. That was 54 percent higher than the 107,878 announced over the same period in 2025.
Tech also accounted for 29 percent of all U.S. job cuts announced through September, more than any other industry. Layoffs across the economy as a whole have actually declined from last year's levels. U.S.-based employers announced 573,195 job cuts from January through September, down 39 percent from 946,426 during the same period of 2025, according to Challenger, Gray & Christmas.
And even excluding the government sector, which heavily affected the year-over-year comparison, announced cuts were down 15 percent. However, the tech industry’s story has played out differently Netflix announced approximately 1,000 layoffs this month, its largest round of job cuts since 2022. "Our mission - to entertain the world - is ambitious, and delivering on it requires us to be disciplined about where we prioritize our people and resources,” Netflix co-CEOs Ted Sarandos and Greg Peters said in a memo to employees.
"Our business is strong and growing, and we remain on track to deliver our full year forecast.” eBay is separately cutting around 1,000 jobs. "As we work to capture the significant opportunity ahead, this step was taken to ensure we continue to operate from a position of strength by aligning our teams and resources with our top strategic priorities," an eBay spokesperson said. Together, the company's two rounds amount to around 1,800 positions during 2026.
Just a few years later, though, that monumental growth is stalling, and these same companies are looking to scale back.” The two companies are far from alone in their recent layoffs. Oracle's annual financial disclosure showed its workforce had declined by 21,000 positions over the previous year, or around 13 percent. The company explicitly acknowledged the potential effect of AI on employment, saying that “the adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce." Amazon also announced about 16,000 corporate layoffs in January, as part of an effort the company described as reducing organizational layers and bureaucracy.
Extract — continue reading at the source.
