By Anjali Sharma
WASHINGTON – The data compiled by Layoffs.fyi said on Sunday that over 73,200 jobs were cut in the initial 3 months of 2026 Q1FY26 by 95 Information Technology companies
The key companies were The Walt Disney Company, Meta Platforms, Snap Inc., and Oracle Corporation, data stated.
It noted that Disney is preparing to cut 1,000 jobs.
The development came as first major restructuring since Josh D’Amaro took over as chief executive in March.
Disney’s severance packages vary based on role and tenure with the non-managerial employees with under five years of service will receive four weeks of pay, while those with longer tenures will get one week per year of service, capped at 52 weeks, data added.
In March, Meta reduced around 700 roles across recruitment, sales and operations.
The company to reduce its workforce with 198 roles set to be cut across its California offices in Burlingame and Sunnyvale.
In January, the company had cut over 1,500 jobs tied to its augmented and virtual reality initiatives.
Oracle Corporation is also undertaking one of the largest restructuring drives.
It has rolled out plans to cut between 20,000 and 30,000 jobs worldwide.
India is among the hardest-hit regions, with estimates suggested 12,000 roles impacted.
According to reports these layoffs span cloud, healthcare, sales and Net Suite divisions, pointed to a company-wide overhaul driven by heavy investment in AI infrastructure.
Snap Inc. is planning to lay off around 1,000 employees, nearly 16 per cent of its workforce.
Snap is also eliminating over 300 unfilled roles, signaled a broader hiring slowdown.
The company expects to save over $500 million annually by the second half of 2026, data concluded.
