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• Meta plans up to $135 billion in AI spending while cutting about 8,000 jobs
• Microsoft is offering buyouts to nearly 7 per cent of its US workforce
• More than 70,000 tech jobs have already been cut in 2026

Companies are pouring billions into artificial intelligence while cutting thousands of jobs, and the pattern is becoming difficult to ignore. At Meta Platforms, around 8,000 roles, nearly 10 per cent of its workforce, are being cut alongside about 6,000 open roles that will no longer be filled. Around the same time, Microsoft said it would offer voluntary buyouts to roughly 7 per cent of its US workforce, affecting more than 8,000 employees.

The backdrop is a sharp rise in AI spending. Meta expects to invest between $115 billion and $135 billion this year, while Microsoft is also committing over $100 billion, largely towards AI infrastructure such as data centres and chips. Inside companies, AI is already doing part of the job. In some Microsoft teams, AI tools are handling close to 30 per cent of coding tasks. Across the sector, more than 70,000 tech jobs have already been cut in 2026 as companies restructure around AI-led operations.