Tech layoffs in 2026 have already surpassed 92,000 jobs across 98 companies, making it the worst year for tech employment since the post-pandemic bust. Meta, Amazon, Microsoft, Snap, Oracle, and Block are among the biggest names cutting staff, with AI infrastructure spending cited as the primary driver. But beneath the efficiency narrative lies a more complicated story—one of overhiring, debt, and a workforce reckoning that’s far from over.