Is AI Replacing Software Engineers in 2026? What the Layoff Data Actually Shows
US tech companies have cut nearly 140,000 jobs in 2026, with Amazon, Oracle, Meta, and Microsoft alone accounting for 50,000 of those. AI is cited as a factor in a significant share of the cuts. But Anthropic's own head of economics says he sees no significant AI-driven workforce effects yet, Nvidia's CEO directly rejected the replacement thesis, and companies citing AI in layoffs have underperformed the Nasdaq by nearly 10% in the 30 days following their announcements — suggesting the market has doubts about the story executives are telling.
June 20, 2026