16 layoff headlines from May 2026.
May 1, 2026 · CNBC
Estée Lauder Plans to Cut Up to 10,000 Jobs in Profit Recovery Push
Estée Lauder said it would cut between roughly 9,000 and 10,000 jobs — around 17.5% of its workforce — as part of an expanded Profit Recovery and Growth Plan. The reductions include point-of-sale demonstration roles and are expected to drive charges of about $1.5 billion to $1.7 billion. The beauty company simultaneously lifted its annual profit forecast as it reshapes its cost base.
May 5, 2026 · CBS News
PayPal to Cut 4,760 Jobs in Multi-Year Reorganization
PayPal announced plans to eliminate 4,760 jobs — about 20% of its workforce — phased over the next two to three years as CEO Alex Chriss reorganizes the payments company. The company targeted at least $1.5 billion in savings from the restructuring. The cuts rank among the largest fintech reductions of 2026.
May 5, 2026 · Yahoo Finance
Coinbase to Lay Off About 700 as It Restructures for the 'AI Era'
Coinbase said it would lay off about 700 employees — roughly 14% of its workforce — as CEO Brian Armstrong restructured the crypto exchange for what he called the 'AI era,' flattening the organization. The company explicitly cited AI as part of its rationale and expected a charge of about $50 million to $60 million. The cuts reflect a broader trend of crypto and fintech firms reorganizing around AI efficiency.
May 14, 2026 · Fox Business
Cisco Cuts About 4,000 Jobs the Same Day It Reports Record Revenue
Cisco said it would cut about 4,000 jobs — under 5% of its workforce — on the same day it reported record quarterly revenue of $15.8 billion. The company described the move as a reallocation of resources toward silicon, optics, security, and AI rather than a savings-driven cut. The juxtaposition of record revenue and layoffs underscored how AI-era reinvestment is reshaping even thriving tech firms.
May 20, 2026 · TechCrunch
Intuit to Lay Off Over 3,000 Employees to Refocus on AI
Intuit said it would lay off more than 3,000 employees — roughly 17% of its workforce — as it simplifies its structure and refocuses on AI. The accounting and fintech software maker has struck partnerships with leading AI labs including Anthropic and OpenAI as it reorients its products. The cuts came amid mixed messaging from leadership about the role of AI in the reductions.
May 15, 2026 · HRD America
Starbucks Cuts About 300 Corporate Jobs in Cost-Reduction Drive
Starbucks cut about 300 corporate jobs — including dozens of technology roles in Seattle — as part of a roughly $2 billion cost-reduction effort targeting fiscal 2028. The reductions included a reorganization of its technology functions. The cuts reflect a broader retrenchment among large employers as corporate downsizing spread across industries in 2026.
May 18, 2026 · SDxCentral
Verizon Continues Mass Layoffs With Hundreds More Jobs Cut
Verizon disclosed a new round of about 621 job cuts via a WARN filing, on top of some 13,000 reductions in the prior six months. CEO Dan Schulman has pointed to AI replacing workers as part of a drive toward roughly $5 billion in operating-expense savings. The telecom giant has been among the most aggressive U.S. employers in tying workforce reductions to automation.
May 2, 2026 · NPR
Spirit Airlines Ceases Operations, Putting ~14,000 Out of Work
Spirit Airlines began an orderly wind-down of operations on May 2 after a sought-after $500 million federal bailout failed to materialize, putting roughly 14,000 employees out of work — about 17,000 including contractors. The budget carrier had filed for a second Chapter 11 bankruptcy in 2025, and a 2026 jet-fuel price spike tied to the Iran conflict pushed it past the brink. It was the single largest U.S. workforce loss of the month.
May 11, 2026 · CNBC
GM Cuts 500–600 IT Jobs in AI-Focused Restructuring
General Motors began notifying 500 to 600 salaried information-technology employees on May 11 that their roles were being eliminated, with cuts concentrated in Austin, Texas and Warren, Michigan. The automaker framed the reductions as reshaping its tech workforce around AI and other future-forward skills — even as it kept roughly 80 IT positions open, including AI, motorsports, and autonomous-vehicle roles.
May 13, 2026 · HRD America
LinkedIn Cuts ~875 Jobs (5%) Despite Record Revenue
Microsoft-owned LinkedIn cut about 5% of its workforce — roughly 875 of its 17,500-plus employees — across its Global Business Organization, marketing, engineering, and product teams. The reorganization was new CEO Dan Shapero's first major move and came despite the unit crossing $5 billion in quarterly revenue. Sources told Reuters AI automation was not the driver of the decision.
May 21, 2026 · Fast Company
Groupon Cuts Up to 400 Jobs in 'AI-Native' Project Foundry Pivot
Groupon announced up to 400 job cuts — nearly a quarter of its workforce — under 'Project Foundry,' an AI-native pivot that deploys AI voice agents to replace the human merchant-outreach sales calls that have anchored its local-deals business since 2008. The company booked $7–13 million in severance charges to unlock $20–25 million in annualized savings and raised its 2026 adjusted EBITDA guidance.
May 27, 2026 · San Francisco Chronicle
Webflow Restructures for the 'Agentic Web' in Abrupt Layoff Round
Webflow restructured around an 'agentic web' AI pivot, announced in a May 27 blog post from CEO Linda Tong that did not disclose a headcount; estimates put the cut around 140 roles — larger than the 8% reduction it made in 2024. Affected employees reported being locked out of their laptops before receiving termination emails, drawing criticism over how the round was handled.
May 28, 2026 · CNBC
Wix to Cut ~20% of Staff, Citing Shekel Surge and AI Pivot
Wix said it would cut about 20% of its staff — just over 1,000 of its roughly 5,277 employees, settling near 4,200 — as CEO Avishai Abrahami cited both a strengthening Israeli shekel against the company's U.S.-dollar revenue and an AI-native pivot. The announcement followed a Q1 earnings miss that sent the stock down 27% despite $541 million in revenue.
May 19, 2026 · CNBC
Standard Chartered to Cut ~7,800 Roles by 2030 as AI Replaces Back-Office Work
Standard Chartered said it would cut about 7,800 jobs — more than 15% of its corporate-functions roles such as HR, risk, and compliance — by 2030, partly through attrition and redeployment. CEO Bill Winters bluntly framed the move not as cost-cutting but as 'replacing lower-value human capital' with AI, targeting roughly 20% higher income per employee by 2028. Of about 82,000 staff, some 52,000 are in the support roles being trimmed.
May 18, 2026 · Retail Dive
IKEA Franchisor Inter IKEA Group Cuts 850 Jobs Amid Weak Demand
Inter IKEA Group, the IKEA franchisor, said it would cut about 850 jobs of its roughly 27,700 staff — mostly in support functions, with around 300 in Sweden — to gain 'simplicity and speed.' The company cited weaker consumer confidence, rising costs, U.S. tariffs, and Iran-conflict fuel prices squeezing home-furnishings spending. The cuts followed roughly 800 layoffs at retail operator Ingka Group in March.
May 16, 2026 · Entrackr
Innovaccer Lays Off ~340 in 'AI-Native' Restructuring
Health-tech unicorn Innovaccer laid off about 340 employees across India and the U.S. — its third workforce reduction in four years — as CEO Abhinav Shashank restructured around an 'AI-native' operating model, saying AI had automated workflows that once required large teams. The cuts came months after a $75 million ESOP buyback in January. (Some aggregators initially reported ~850; primary reporting puts the figure near 340.)