[REVISION HISTORY]

AI-driven layoffs across tech and service sectors

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2026-07-29 14:45 UTC → 2026-07-29 15:13 UTC · added ~~removed~~

In late July 2026 U.S. tech firms announced roughly 140,000 AI‑driven job cuts, with Monday.com, Uber, Intel, Amazon, Oracle, Meta and Microsoft among those reducing staff. The wave quickly spread to finance and hospitality, as Australian banks and global hotel chains replaced human call‑center agents with generative‑AI tools. Commonwealth Bank dismissed several hundred chat‑support advisers, ~~and~~ saving tens of millions of dollars annually, while Uber trimmed about 10 % of its customer‑service workforce. Microsoft cut its support workforce from about 50,000 to 40,000, citing annual savings of roughly $750 million. Hyatt Hotels ~~also~~ began using AI from start‑up Sierra for routine guest requests. Analysts warned the automation shift could affect up to half of global customer‑service jobs by 2030, with the Philippines likely to see the steepest losses. The AI surge also prompted capital‑flow reactions: foreign investors withdrew more than $23 billion from India, fearing pressure on the country’s large IT‑outsourcing sector. India’s weighting in the MSCI Emerging Markets index fell from 21 % to 12 %, and its market‑capitalisation briefly slipped to the world’s seventh‑largest in June.

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