More layoffs swept across industries in early May 2026 as a fresh wave of firms announced job cuts.
Many of the cuts share a common driver. Companies are rebuilding around artificial intelligence (AI).
Cloudflare Announces Layoffs in May 2026
Cloudflare announced Thursday it would cut more than 1,100 jobs globally, about 20% of its 5,156-person workforce, as reported at the end of 2025. The firm revealed that internal AI usage increased by more than 600% in three months.
On the same day, payments firm BILL said it would slash headcount by up to 30%. In addition, Upwork CEO Hayden Brown informed employees that the company would cut roughly a quarter of its workforce.
Media reports also revealed that Ticketmaster has reportedly cut 8% of its global workforce, or roughly 350 employees across 25 countries.
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Earlier this week, Bloomberg reported that fintech firm PayPal plans to eliminate about 20% of its 23,800-person workforce over the next two to three years. That equals roughly 4,760 jobs.
In the crypto sector, Coinbase announced Tuesday it would cut about 14% of staff, or roughly 700 employees. CEO Brian Armstrong framed the decision as a structural shift toward smaller, AI-augmented teams.
Notably, the cuts come as research finds little evidence of broad AI-driven job disruption at the moment. Economists still expect shifts ahead.
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The post Layoffs Accelerate in May 2026 as Firms Restructure Around AI appeared first on BeInCrypto.
Source: https://beincrypto.com/ai-restructuring-job-layoffs-2026/
