Over 5,000 tech jobs cut in October

Tech sector lays off over 5,000 staff as Amazon, Netflix, eBay, and HubSpot pivot to AI strategies

Well over 5,000 jobs have been eliminated in the technology sector this month, including cuts from major companies like Amazon, Netflix, eBay, and HubSpot.Netflix announced layoffs on October 14 affecting nearly 1,000 employees, which is approximately 6% of its workforce.

eBay is reducing its staff by about 9%, resulting in around 1,100 job cuts after previous reductions of 800 in February.

Amazon has eliminated roughly 1,000 roles in its Stores division and 250 more in devices and services in late October.

Job cuts continue

HubSpot is letting go nearly 660 employees, around 7% of its workforce, as it shifts towards an AI-focused strategy.

AI has been cited in 33% of tech layoff events in 2026, showing an increase from just 1% in 2024.

Other companies also announced notable layoffs, including Electronic Arts, which is cutting about 400 jobs.

Supermassive Games has laid off more than 70 staff following earlier announcements of possible cuts.

Despite Amazon’s significant job cuts, the company continues to focus on improving efficiency and aligning with its product roadmap.

XM Cyber has reduced its workforce from 300 to 50 following a deal with CrowdStrike valued at $600 million.

Nokia and TomTom are also making job cuts, with Nokia planning to eliminate up to 253 positions and TomTom cutting around 6% of its staff globally.

Layoffs.fyi has reported over 119,800 tech employee layoffs at 196 companies through late June.

The layoffs highlight a continuing trend in the tech industry as companies reorganise to address economic pressures and leverage new technologies.