Another tech layoff wave
Dell cut about 10% of its workforce—roughly 11,000 jobs—marking its third consecutive year of reductions, while reports say Meta is planning a roughly 20% cut and Oracle is rumored to consider up to 30,000. The pattern underscores a larger shift: firms are trimming headcount to reallocate spend toward AI investments and efficiency. (foxbusiness.com)
Dell’s 10‑K, filed March 16, shows the company recorded $569 million in severance expense for fiscal 2026. (money.usnews.com) The same filing and February earnings release list record full‑year revenue of $113.5 billion and state Dell closed more than $64 billion in AI‑optimized server orders, shipped over $25 billion of those systems during the year, and entered fiscal 2027 with a $43 billion backlog. (dell.com) Dell’s Q4 AI‑optimized server revenue was $9.0 billion, a 342% year‑over‑year increase, and the company projected roughly $50 billion of AI‑server revenue for the fiscal year ending January 2027. (investors.delltechnologies.com) Reuters reported that Meta is internally planning sweeping workforce reductions but that “no date has been set” and the company described the reporting as speculative when contacted by journalists. (cnbc.com) Meta’s public filings show about 78,865 employees as of December 31, 2025, and company statements recall the previous large restructuring in late 2022 when roughly 11,000 positions were cut as part of cost trimming. (cnbc.com) Investment‑bank research cited in media reporting says Oracle is weighing measures to bolster cash flow tied to its AI data‑center buildout, including asset sales and workforce reductions that TD Cowen estimated could free roughly $8 billion to $10 billion, while coverage notes Oracle’s global workforce is on the order of 160,000‑162,000 and that some banks have pulled back on financing for the expansion. (cio.com)
