Why Are Uber, PayPal And Others Cutting Jobs? Over 6,300 Roles Gone In 10 Days

The global technology sector is facing another wave of job cuts as companies restructure operations, reduce costs and invest more heavily in artificial intelligence (AI). More than 6,300 tech jobs have been lost in just 10 days, according to Layoffs.fyi.

The latest cuts come after a broader wave of layoffs across the industry. Layoffs.fyi data shows that nearly 1.3 lakh employees have lost their jobs globally in 2026, with major companies including Amazon, Meta and Oracle among those announcing workforce reductions.

The recent job cuts highlight how technology companies are changing their workforce priorities as they look to improve productivity and control costs. While AI is playing a growing role, companies are also responding to changing business conditions and shifting investment priorities.

Uber, PayPal Among Companies Cutting Jobs

PayPal has announced plans to reduce its workforce in India by around 4%, affecting about 220 employees across Chennai, Bengaluru and Hyderabad. The cuts have reportedly affected teams in technology, engineering, operations, payments and finance.

Uber has also announced plans to eliminate around 3,300 jobs, representing about 10% of its global workforce. The move marks one of the company’s biggest workforce reductions since the Covid-19 pandemic.

Other companies have also reduced headcount. Zomato and Apple have together cut close to 250 jobs, while Oracle is expected to carry out another round of layoffs that could affect thousands of employees globally, according to reports.

AI, Cost Cuts Reshape Tech Workforce

The growing use of AI and automation is changing the way companies organise their workforce. Businesses are using these technologies to improve productivity and automate repetitive and administrative tasks.

Companies are also shifting resources towards areas such as AI, cloud computing and automation while reducing roles they consider less essential. This is allowing businesses to redirect spending towards technologies they see as important for future growth.

However, AI is not the only reason behind the layoffs. Slower growth in some businesses, pressure to improve profitability, post-pandemic hiring, changing strategies and efforts to simplify operations are also contributing to job cuts. Together, these factors show how companies are trying to make their businesses leaner while reallocating resources towards areas expected to drive long-term growth.