The wave of layoffs sweeping through the global technology ecosystem since 2022 has shown little sign of slowing in 2026. What began as cost cutting driven by macroeconomic pressures has now evolved into a broader restructuring trend powered by artificial intelligence, automation, and operational efficiency.
Across the world, tech companies are reducing headcount as they pivot toward leaner teams and AI enabled operations.
According to data from Trueup, global tech firms have laid off about 138,900 workers so far in 2026. The pace of layoffs also remains elevated following the more than 245,000 tech workers who lost their jobs in 2025.
This week, Meta Platforms, parent company of Facebook, began notifying employees of fresh job cuts affecting roughly 8,000 roles globally as part of a restructuring tied to its artificial intelligence expansion and cost optimisation strategy.
The layoffs reportedly started with employees in Asia before extending to workers in the United States and other regions, according to internal communications cited by international media.
Nigeria’s startup ecosystem has not been spared from the ongoing downsizing trend. So far in 2026, at least three Nigerian startups have carried out layoffs, while staff employed locally by foreign tech firms also continue to face uncertainty.
Quidax, one of the first crypto exchanges to secure Approval in Principle from Nigeria’s Securities and Exchange Commission in 2024, laid off an unspecified number of employees in March.Although the company’s total workforce is estimated at over 100 employees, the exact number affected remains unclear. The layoffs reportedly impacted staff across sales, design, and operations.
According to employees familiar with the matter, the company announced during an all hands meeting that the cuts were tied to performance evaluations conducted using an internal tracking system.
The downsizing also coincides with Quidax’s strategic pivot away from retail cryptocurrency trading toward business to business infrastructure and enterprise crypto payment solutions.
Earlier this year, the company shut down its peer-to-peer trading feature and entered into a partnership with blockchain infrastructure company Lisk.
Another crypto startup, ZAP Africa, reduced its workforce by 44% in February 2026 as part of a restructuring aimed at building a leaner and more automation focused business model.
The Lagos based company cut roles across design, operations, marketing, and customer support teams.
According to former employees, the layoffs started in December 2025 with at least five positions eliminated before another eight roles were cut in February.
ZAP Africa said the restructuring was designed to align operational expenses more closely with revenue generating activities and added that it currently has no plans for further layoffs.
The largest reported startup layoffs in Nigeria this year came from Kuda Technologies.
In March, the digital bank laid off hundreds of employees across multiple departments as part of what it described as a company-wide restructuring exercise.
Affected employees were informed during a video meeting with senior executives, with sources indicating that the marketing department was among the hardest hit.
In a statement confirming the layoffs, Kuda said the restructuring was necessary to reposition the company for its next phase of growth.
An internal memo sent to staff stated that the decision followed a review of the company’s “future operational priorities, industry benchmarking, and long-term direction.”
However, the process reportedly unsettled some employees, particularly due to concerns around the timing of the layoffs and a perceived lack of clarity despite recent senior level recruitment within the company.
Beyond Nigeria, major global technology firms are also continuing workforce reductions as artificial intelligence reshapes operational structures and productivity expectations.
Oracle Corporation has started another round of job cuts across its operations.
According to Business Insider, several Oracle employees disclosed on LinkedIn at the end of March that they had been laid off as part of a broader organisational restructuring. While the total number of affected workers remains unclear, reports suggest the cuts could run into thousands.
Employees reportedly received notices stating that their roles were being eliminated following a review of the company’s business needs.
The layoffs are believed to be connected to Oracle’s efforts to manage rising expenditures linked to artificial intelligence infrastructure investments.
Cryptocurrency exchange Coinbase also announced plans earlier this month to cut approximately 700 jobs, representing around 14% of its workforce.
Chief Executive Officer Brian Armstrong told employees that the company needed to adjust its cost structure amid market conditions, while also pointing to the growing impact of AI on workplace productivity.
“Over the past year, I’ve watched engineers use AI to ship in days what used to take a team weeks,” Armstrong reportedly wrote in a note to employees.
He added that smaller and highly focused teams are now able to achieve significantly more with AI powered tools.
Cisco Systems also announced plans this month to cut about 4,000 jobs as part of its AI focused transition.
