Monday.com, the Tel Aviv-based work management software company known for its colorful, customizable project-tracking boards, this week became the latest tech company to cite AI as a factor in job cuts. On Wednesday, the company said in an SEC filing that it will lay off about 20% of its workforce, or just over 600 employees, as part of a “restructuring plan” tied to its “ongoing transformation of its product, marketing, and go-to-market strategy” in support of “a leaner, more focused operating model” as it continues investing in its “AI-driven growth strategy.”

Co-founder Eran Zinman told employees in a LinkedIn memo that the move “was not made to reduce costs or replace people with AI,” positioning it instead as adapting the organization to a new AI-first vision the company laid out roughly a year ago when it rebranded around a platform-wide AI push. Monday.com, which has two offices in the U.S., expects $45 million to $55 million in net restructuring charges but still projects up to 20% year-over-year revenue growth for 2026.

So far, according to new Financial Times analysis, U.S. tech companies have slashed nearly 140,000 jobs since the start of this year, with Amazon, Oracle, Meta, and Microsoft alone accounting for almost 50,000 of those cuts as they funnel hundreds of billions of dollars into AI data center buildouts. Interestingly, the FT also found that companies citing AI as a factor in job cuts have underperformed the Nasdaq by almost 10% in the 30 trading days following their announcements, suggesting the market doesn’t entirely buy the stories that the companies are telling.

Still, the picture isn’t uniformly bleak. The FT notes that AI-focused companies like Anthropic and OpenAI are hiring rapidly, absorbing some of the talent shed elsewhere in the industry. And within some of the very companies making cuts, headcount is shifting rather than simply shrinking: Meta, for instance, earlier this year moved roughly 7,000 employees into new AI-focused roles even as it laid off 8,000 others, and IBM says it’s tripling entry-level hiring for AI and hybrid-cloud roles alongside recent cuts.

Below is a running look — in reverse chronological order — at the bigger tech companies that have announced significant layoffs this year with AI as a stated factor.

Microsoft — July 9, 2026. Microsoft cut about 4,800 roles, or 2.1% of its global workforce, most of them in its Xbox gaming unit, resetting the business only three years after acquiring Activision Blizzard for $75 billion, per the FT. Separately, it offered buyouts structured as voluntary separations, without disclosing how many employees these would impact. The company said the role eliminations were “not being replaced by AI” but acknowledged “AI is changing how work gets done.” CFO Amy Hood said total headcount declined year-over-year in fiscal Q3, and was expected to keep declining as the company focuses on “building high-performing teams that operate with pace and agility” amid rising AI investment.

Oracle — June 22, 2026. Oracle disclosed in late June that it had reduced its workforce by 21,000 employees over the past 12 months, a decline of 13%, which means more cuts than was previously known, including because of AI. “The adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce,” the company said in an annual financial regulatory filing.

GitLab — June 3, 2026. GitLab laid off roughly 350 workers, about 14% of its staff, to fund AI infrastructure investment and handle surging traffic from AI workflows. CEO Bill Staples said agentic workloads are “pushing competitors to the brink” and that the company had begun a “generational rebuild” of its core infrastructure to support what he called 100x growth requirements. GitLab is exiting 22 countries, flattening management layers, and partnering with an unspecified AI lab to rebuild its platform for agent-scale workloads. The company reported first-quarter revenue of $264 million, up 23% year-over-year, and expects to incur $30 to $35 million in restructuring costs.

Google — ongoing through May. Alphabet’s Google has quietly cut employees across its Cloud division, including its Threat Intelligence Group and Mandiant-linked cybersecurity staff, even as Cloud revenue grew 63% to exceed $20 billion for the first time and its backlog nearly doubled to over $460 billion. Over the past year, Google has cut more than a third of the managers overseeing small teams — 35% fewer managers with fewer direct reports. Unlike most companies on this list, Google has never announced a single overall number — the cuts have come through a rolling performance review process, a voluntary buyout program, and structural reorganizations, with outside estimates putting the 2026 total at between 1,500 and 3,000+ engineers.

Intuit — May 20, 2026. Intuit announced plans to eliminate roughly 3,000 jobs — about 17% of its total workforce — in a restructuring centered on reducing complexity and reallocating resources toward AI. CEO Sasan Goodarzi reportedly told staff the company is reducing complexity and simplifying the structure so it can deliver better products.

Meta — May 20-21, 2026. Meta laid off about 8,000 employees, roughly 10% of its workforce, while moving about 7,000 employees into new AI-focused roles (that they reportedly hate). CEO Mark Zuckerberg told staff the cuts were necessary because “success isn’t a given” in AI.

Cisco — May 14, 2026. Cisco announced it’s cutting nearly 4,000 jobs, about 5% of its workforce, despite reporting better-than-expected profit and revenue. CFO Mark Patterson said: “This was really not a savings-driven restructure… this is more [about] realigning … resources around silicon, optics, security and AI.”

Cloudflare — May 7-8, 2026. Cloudflare cut about 20% of its workforce (1,100 people), reporting quarterly revenue of $639.8 million, up 34% year-over-year and the highest single quarter in company history. CEO Matthew Prince wrote that “the vast majority of those we laid off last week were measurers” — middle management, finance, legal, internal auditing, and revenue recognition.

General Motors — May 12, 2026. GM eliminated 500 to 600 jobs, largely in IT roles in Austin, Texas, and Warren, Michigan, saying it was reevaluating its workforce needs amid uncertain market conditions. A person familiar with the cuts told CNBC that AI played a role in the decision but that it wasn’t the only reason. GM’s statement said it was “transforming its Information Technology organization to better position the company for the future.” Despite the cuts, the company still had roughly 80 open IT positions, including roles in AI, motorsports, and autonomous vehicles.

Coinbase — May 5, 2026. The crypto exchange said it was cutting about 700 employees, or 14% of its staff, as part of a restructuring aimed at addressing market volatility and increasing AI efficiency. The company flattened its organizational structure to five layers below the CEO and COO, and said it would experiment with “one-person teams” combining engineering, design, and product roles. CEO Brian Armstrong wrote that AI had changed the pace of work dramatically — “engineers use AI to ship in days what used to take a team weeks” — and that the company needed to “leverage AI across every facet of our jobs.”

PayPal — May 5, 2026. PayPal announced plans to cut around 20% of its workforce over the next two to three years — north of 4,500 jobs — as part of a turnaround strategy centered on AI adoption and organizational simplification. CEO Enrique Lores told investors the company would “aggressively adopt AI” in its development processes and formed a new “AI transformation and simplification” team reporting directly to him, tasked with redesigning the company’s processes “function by function.” Lores framed the cuts as removing organizational layers, and said AI would extend well beyond coding into customer service, support operations, and risk management.

Microsoft — April-May 2026. Microsoft offered buyouts structured as voluntary separations, without disclosing how many employees these would impact. CFO Amy Hood said total headcount declined year-over-year in fiscal Q3, and is expected to keep declining as the company focuses on “building high-performing teams that operate with pace and agility” amid rising AI investment.

Snap — April 16, 2026. Snap cut roughly 16% of its global workforce — about 1,000 full-time employees — and closed more than 300 open roles, with CEO Evan Spiegel citing AI advancements as a key driver. “Rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity, and better support our community, partners, and advertisers,” Spiegel wrote in a memo filed with the SEC. The company said it had already seen small squads using AI tools to drive progress across Snapchat+, ad platform performance, and infrastructure efficiency.

IBM — rolling through 2026. Between Q4 2025 cuts and April 2026 Red Hat engineering reductions, estimates range from 3,000 to 9,000 U.S. positions eliminated, bringing IBM’s cumulative total since September 2024 above 15,000. Bloomberg reported IBM plans to triple its U.S. entry-level hiring for AI and hybrid-cloud roles, even as roughly 200 HR positions were replaced by AI agents. An IBM spokesperson described the Q4 2025 round as a routine rebalancing affecting “a low single-digit percentage” of its global workforce.

Atlassian — March 11, 2026. Atlassian cut about 1,600 jobs (10% of its workforce) to “rebalance” toward AI and enterprise sales, even as shares rose nearly 2% on the news. CEO Mike Cannon-Brookes said: “Our approach is not ‘AI replaces people.’ But it would be disingenuous to pretend AI doesn’t change the mix of skills we need or the number of roles required in certain areas. It does.”

Dell — January 30 (though disclosed in March 2026). Dell’s total workforce fell about 10% in fiscal 2026 — roughly 11,000 jobs — to about 97,000 employees from 108,000 a year earlier, with $569 million spent on severance. The cuts came as Dell projected its AI-optimized server revenue could double in fiscal 2027.

Oracle — March 5-31, 2026. As noted above, Oracle began telling employees it would be cutting thousands of jobs via terminal emails. The cuts came even as Oracle posted $3.7 billion in quarterly net income, up 27% year-over-year, with remaining performance obligations up 325% to $553 billion — savings redirected toward AI data centers. The cuts that would later total 21,000 over 12 months, as Oracle disclosed in its June 22 annual filing.

Block — February 26-27, 2026. Jack Dorsey’s Block cut 4,000 jobs — nearly half its workforce, down to under 6,000 from over 10,000. Dorsey wrote on X: “We’re already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company.” He added: “I think most companies are late. Within the next year, I believe the majority of companies will reach the same conclusion and make similar structural changes.”

Salesforce — February 10, 2026. Salesforce laid off fewer than 1,000 employees across marketing, product management, data analytics, and its Agentforce AI unit. The company told Fortune, “Because of the benefits and efficiencies of Agentforce, we’ve seen the number of support cases we handle decline and we no longer need to actively backfill support engineer roles.” This followed an earlier cut of about 4,000 customer-support roles, shrinking that team from roughly 9,000 to 5,000, with CEO Marc Benioff saying the company needed “less heads” because AI agents handle the work.

Amazon — January 28, 2026. Amazon cut 16,000 corporate jobs, following 14,000 cuts in October 2025 — about 9% of its corporate workforce in three months. The company said it was part of “strengthen[ing] our organization by reducing layers, increasing ownership, and removing bureaucracy.” CEO Andy Jassy had said in June 2025 that, “As we roll out more generative AI and agents, it should change the way our work is done. We will need fewer people doing some of the jobs that are being done today… in the next few years, we expect that this will reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company.”

Warner Bros. Discovery filed a lawsuit this week accusing Amazon of interference with contractual relations, breach of contract, and unfair competition.

As reported by Deadline, the lawsuit alleges Amazon has been “hurriedly seeking to pirate away a number of contracted employees,” including Pia Barlow, an HBO Max marketing executive who recently joined Amazon MGM Studios. Warner Bros. (whose pending acquisition by Paramount has been paused for at least a few months) said Barlow’s employment contract was “not set to expire until October 31, 2027.”

“In blatant disregard of established California law, Amazon has gone rogue by attempting to induce Plaintiffs’ employees with term employment agreements to breach those agreements with impunity, backed up with the ready assurance that Amazon will defend and indemnify them should they be held to account for their blatantly unlawful acts,” Warner Bros. said.

The company also accused Amazon of seeking to “tortiously induce another WBD employee to breach their term employment agreement, which was not set to expire until December 2027,” although that executive (believed to be HBO programming executive Francesca Orsi) ultimately stayed at Warner Bros.

Deadline noted that this lawsuit is likely to renew debates about whether term employment agreements are actually enforceable under California law.

Amazon MGM Studios declined to comment.

Over the last few decades, several mysterious hackers have captured the public’s imagination, but none quite like Phineas Fisher. A decade after their most famous hack, Phineas remains, by most accounts, the most prolific and public hacker never to have been caught. 

As part of our series on the biggest cybersecurity mysteries of all time,  we’re delving into the enigma of Phineas, the hacktivist who hacked controversial spyware makers FinFisher and Hacking Team. The latter, an Italian startup, was among the first to turn government spyware into a viable global business, paving the way for spyware makers such as the Israeli NSO Group. Phineas’ hack against Hacking Team eventually led to the startup’s demise years later.

Apart from Anonymous, an amorphous amalgam of hacktivists with a mixed track record of mostly stunt hacks designed to gather publicity rather than have real impact, Phineas is perhaps the most well-known hacktivist in history. Their story is made of impressive hacks and endless unanswered questions.  

Who is Phineas Fisher? 

Variously called an anarchist, a cybercriminal, a hacktivist, and a vigilante, the hacker has said they “use a lot of different names” for different hacking escapades. 

The hacks we know about were big enough to turn Phineas into a legend among hackers. “I would like to meet Phineas Fisher so that I could buy them a seven-course, three-Michelin-star dinner somewhere and listen to them explain how they turned Hacking Team inside out like a gym sock,” a well-known security researcher once wrote on Twitter. There’s even a song about them. 

Phineas first emerged in August 2014, when they announced they had hacked Gamma Group, the makers of the FinFisher spyware — which is where the nickname comes from. They publicized the hack via a Twitter account cheekily called @GammaGroupPR, leaking stolen data including mobile spyware, product manuals, and a price list. The damage was limited, and FinFisher carried on. Phineas published a post-mortem that doubled as a leftist manifesto, then vanished. 

A year later, they came back with a bang, hacking Hacking Team, another spyware maker. They took practically everything: more than 400 gigabytes including source code, tens of thousands of internal emails, confidential contracts, and customer lists. The leak allowed journalists to reveal scandals in Ecuador, Mexico, and Panama. Years later, Hacking Team’s CEO David Vincenzetti was forced to sell his company for one euro. For some former employees, Phineas’ hack was the beginning of the end. 

Phineas went on to hack the union of the Mossos d’Esquadra, which is the police force of Catalonia, publishing a post-mortem and a 39-minute tutorial video — consistent with their stated anti-police ideals. Their next victim was the ruling party of Turkey’s authoritarian president Recep Tayyip Erdoğan, a hack motivated by solidarity with Rojava, a leftist autonomous region in northern and eastern Syria that Turkey was fighting against. 

Phineas’ last known victim was Cayman National Bank’s branch in the Isle of Man, a self-governing island between England and Ireland. The hack hinted at a different side of Phineas. “I look for illegal ways to make money in order to free my time so I can do something useful with it. Once I had that figured out, I started scaling it up and making more money than I need and giving the extra away,” Phineas said in an interview with activist Freddy Martinez. (Phineas donated at least $10,000 in Bitcoin to Rojava.) 

Phineas kept the hack — which happened in 2016 — quiet for three years later before announcing the “Hacktivist Bug Bounty Program,” an initiative to reward hacktivists who expose companies’ illegal and unethical activities. When Cayman National Bank confirmed the hack, it claimed it “was amongst a number of banks targeted.” Phineas confirmed they had been hacking several banks for years. 

That was their last public appearance. Their Twitter and Reddit accounts have long since been deleted, leaving no online trail. FinFisher never contacted law enforcement, according to a former company employee. The Italian authorities’ investigation into the Hacking Team hack ended without finding any evidence pointing to Phineas’ real identity. What I can say, from my own reporting, is that Phineas is alive and well — they have been in contact with me within the last couple of years. 

So who is Phineas Fisher? Taking their claims at face value, they’re a hacktivist with anarchist ideals, but also a cybercriminal. Could they instead be a fabricated persona controlled by a spy agency — Russia, say, which has a history of inventing hacktivists to muddy the waters after its own hacks? Phineas has denied being a Russian spy, and it’s unclear why Moscow would go after all of Phineas’ chosen targets. 

Their origins are equally murky. Phineas has name-dropped Spanish-speaking anarchists, wrote the Hacking Team post-mortem in Spanish, and followed numerous Latin American leftist accounts on Twitter. They told me their first language is neither English nor Spanish, though they have acknowledged living in a Spanish-speaking country. It’s all worth taking with a grain of salt. “Everything I say that contains clues about my identity is half trolling,” Phineas once told me. “I’m in the habit of saying misinformation.” 

It’s also possible that the Phineas persona was passed around between 2014 and 2019 and used by different individuals. But there is no evidence of that, and after 10 years of conversations, my gut says Phineas truly is the hacktivist they claim to be.