114,000 and Counting: Silicon Valley Layoffs Hit New High
Silicon Valley has seen over 114,000 job cuts across 150 companies so far in 2026, according to layoff tracking data. The Presenc AI tracker puts the broader tech sector at 78,557 layoffs YTD with 47.9% directly AI-attributed. Meta led with 8,000 cuts (7,000 reallocated to AI teams). Intuit just added 3,000 more. The pattern isn’t slowing.
Intuit Cuts 17% of Workforce — CEO Says “Nothing to Do With AI”
Intuit CEO Sasan Goodarzi pushed back hard on the AI layoff narrative, saying the 17% workforce reduction was about simplifying operations. But Intuit is simultaneously increasing its AI investment. When a company cuts humans and increases AI spend in the same quarter, employees are allowed to read between the lines.
99% of CEOs Expect AI-Driven Layoffs Within Two Years
A new survey finds virtually all CEOs — 99% — expect AI-driven layoffs within two years. The survey confirms what the layoff data already shows: the question isn’t whether AI will replace jobs, but how fast and how many. For workers, the signal is clear: the people making decisions about your job already believe AI will replace it.
Uber: Replace Hiring with AI Spend
Uber CEO Dara Khosrowshahi said the quiet part out loud: the company is compensating for rising AI costs by hiring fewer humans. It’s the most explicit articulation yet of the trade-off — AI tokens instead of headcount. And even Uber’s president admits the value link isn’t there yet.
California Pushes AI Layoff Transparency Bill
California is advancing legislation that would require companies to disclose when AI substitution is a factor in workforce reductions. It’s a transparency measure, not a ban — and tech companies are already lobbying against it. If it passes, it would be the first law of its kind in the US.
AI Is Cutting 16,000 US Jobs Per Month
CBS News reports that AI-related job losses are running at approximately 16,000 per month in the US. The entry-level hiring freeze in AI-exposed occupations is the most visible symptom: companies aren’t firing juniors so much as they’ve stopped hiring them entirely.
🔍 THE BOTTOM LINE
Three data points this week tell the whole story: 114,000 Silicon Valley layoffs, 99% of CEOs expecting more, and Uber — the company that went all-in on AI — can’t prove it’s worth the money. The AI jobs transition isn’t coming. It’s here. The question is whether anyone is building the off-ramp.