The tech industry is entering a transformative phase marked by widespread layoffs as companies shift focus towards AI integration. Oracle's announcement of 30,000 job cuts mirrors a broader trend that has already seen Meta reduce its workforce by 20%, redirecting efforts away from metaverse ambitions. Overall, over 50,000 jobs were lost in the sector within the first two months of 2026, following a staggering decline of 55,000 jobs the previous year. This rapid transition raises concerns about the long-term stability of tech employment and the economic implications of such drastic workforce reductions in response to automation.
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