Beyond the layoffs - the structural changes re-shaping the tech talent market. (Spoiler - it's not all AI's fault!)

The tech hiring and employment markets are undergoing a series of structural shifts - but not in ways you might immediately always think of.

To set the scene, in a continuation of last year’s activity, tech employers have cut nearly 120,000 positions since the start of 2026, mostly in the US (76.7%). Among the headline-grabbing examples, Block's 4,000 job cuts, Meta's planned 8,000, and Oracle's estimated 30,000.

Should such headcount reductions continue at current rates, job losses could hit as many as 318, 592 by the end of the year, believes Alan Cohen, Data Analyst at foreign exchange services provider, RationalFX. This figure is up markedly from last year’s total of 245,000. As to what is bringing about this situation, Cohen says:

What began as a pullback from pandemic-era overexpansion [when more than a million tech jobs were eliminated globally ...