Tech job cuts continued through 2026 as major firms restructure around AI, with nearly 196,000 tech workers affected globally as of late October. May was a peak month, when nearly 29,000 tech jobs were eliminated. The cuts are concentrated at highly profitable companies and are often rewarded by investors, as they signal margin expansion. The main driver is shifting capital toward AI data centres, foundation models and specialised talent. Indian IT services firms have also reported muted headcount growth, slowed fresher hiring and emphasised upskilling and automation, with revenue per employee and AI readiness now key measures of corporate health.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on livemint.com ↗
Keywords
employmentartificial intelligencetech stocksMSFTGOOGLMETA
Open a keyword to see other news on the same topic.
Related tickers and likely impact
GOOGL
• NeutralAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/23/2026 | 320.25 |
| Change that session | -1.22% |
META
• NeutralMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.7T |
| Close on 10/23/2026 | 642.26 |
| Change that session | -1.02% |
MSFT
• NeutralMicrosoft
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 10/23/2026 | 524.53 |
| Change that session | +0.66% |
NVDA
▲ Likely positiveNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/23/2026 | 211.00 |
| Change that session | -0.57% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Tech stocks tumble Friday , AI shares lead the way
- Sector Update: Tech Stocks Fall Late Afternoon
- Big tech is wobbling. Goldman Sachs says it's time to buy these 23 unloved stocks instead.
- Don’t buy this dip: Several signs suggest there’s more pain ahead for tech stocks
- Meta and Google are about to have a consumer AI showdown
Meta (META) and Google (GOOG) are heading for a showdown over consumer AI assistants, a race to control the next dominant tech platform. Meta's Muse, which launched last month as the first popular AI agent for everyday users, has hit a download milestone, but cautious users may wait for Google or Apple (AAPL) given how much trust is needed for emails, calendars and wallets. Bank of America analysts said Google is well positioned with proprietary models, custom silicon and broad distribution, and a competitive agent or broader Gemini 4 launch could be catalysts. The two firms account for more than half of global digital ad revenue, yet AI agents could move users away from the screen-phone-app model that underpins those businesses.
- Gene Munster Flags Meta’s Muse As A Bigger Risk To Google Search Than ChatGPT
Gene Munster and Doug Clinton of Deepwater Asset Management say Meta’s Muse personal AI agent poses a bigger long-term risk to Google than ChatGPT. Such assistants can carry out multi-step tasks like scheduling, negotiating rates and making purchases, and Munster notes Google built a $250B search business on routing those transactions. Since Muse’s launch, Alphabet shares have risen about 7%, outpacing the Nasdaq’s roughly 3% gain. Google responded by folding its Spark agent into Gemini under a new “Task” mode, while META and GOOG are up 12% and 10% year-to-date, respectively.
Related markets
Latest news
- 'The world's super company': Wall Street weighs SpaceX earnings, company's likely Tesla tie-up
Wall Street analysts are weighing SpaceX (SPCX) as a potentially giant company, especially with a possible tie-up with Tesla (TSLA). Elon Musk, CEO of both firms, projects SpaceX's annual recurring revenue by end-2027 at between 500 billion USD and 1 trillion USD. Its booming AI compute business has fueled bets that SpaceX could become a fifth hyperscaler alongside Meta, Alphabet, Microsoft and Amazon. RBC Capital Markets says Tesla's planned Terafab chip production is a way to bypass Nvidia and TSMC, while Canaccord Genuity raised its Tesla price target to 442 USD from 410 USD on a merger-based view. JPMorgan more than doubled its SpaceX price target to 500 USD, with shares trading at 146 USD on Friday.
- Meta Just Dropped 9% in a Week. Is It Time to Sell, or Load Up?
Meta stock fell about 9% over the past week, mostly after its third-quarter report: revenue rose 26% to 64.6 billion USD, but free cash flow was negative at 2.12 billion USD as capex reached 34.91 billion USD, above operating cash flow of 32.79 billion USD. Meta raised the floor of its 2026 capex range to 135 billion USD, and a New Mexico court ordered it to pay a 25 billion USD fine over the Cambridge Analytica scandal; the company says it will appeal and holds 82.5 billion USD in cash. The stock trades at about 20x forward earnings, below its five-year average of 21x. The author argues investors could buy more if they can accept dilution from the non-voting Class C stock arriving in 2027. The consensus target of 844 USD is about 31% above Friday's close.
- 3 Superior Growth Stocks to Buy Now and Hold for 10 Years
Gartner expects worldwide AI spending to reach about $2.7 trillion in 2026 and $3.6 trillion in 2027, and the article names CrowdStrike, Snowflake and Dell Technologies as well positioned to benefit. CrowdStrike's stock has doubled this year as net new ARR grew 51% year over year in fiscal Q2 2027, and it trades at about 40 times expected fiscal-year revenue. Snowflake, up about 46% this year, saw product revenue growth reach 37% last quarter and raised its full-year product revenue growth outlook to 36% from 31%, at about 18 times expected product revenue. Dell, up about 285% this year, reported AI server revenue doubling and a record $95 billion AI backlog, trading at about 18 times expected earnings.
- Experts point to sector groups that could draw cash flow in Q4
Mr. Bùi Văn Huy, General Director of FIDT, says the recent rebound in the VN-Index has been driven largely by Vingroup-related stocks, with VIC and VHM alone adding over 21 points to the index on the 22/10 session. Cash flow remains weak, liquidity has not surged, foreign investors are net sellers and interest rates are still high, so the index's gains do not yet mean overall market health has fully recovered. For Q4, he suggests buying on market corrections rather than rushing, deploying capital gradually, limiting margin use, favoring companies with solid finances and avoiding chasing overheated blue chips. Sectors he says investors may watch include infrastructure, public investment, energy and green transition, and companies benefiting from preferential loans, while technology and digital transformation still face pressure from the global AI wave. He also stresses monitoring inflation, exchange rates and Fed policy, and reducing stock exposure if inflation gets out of control or interest rates turn upward.
- SSI Research Director projects a scenario of USD 10 billion flowing into Vietnam's stock market
Phạm Lưu Hưng, Director of Analysis at SSI Research, says MSCI values real implementation over new policies, so Vietnam should remove bottlenecks rather than wait for funds leaving Indonesia. Progress has emerged on free-float and foreign ownership, while the central counterparty (CCP) mechanism could be rolled out in Q1/2027 or by Q2/2027 at the latest. In the base case, Vietnam could be placed under review in 2028 and formally upgraded in 2029, and an earlier CCP launch could bring the timeline forward by a year. He estimates that total assets under management of MSCI-tracking funds could exceed USD 2,000 billion at the time of upgrade, and that a 0.5% weight would imply potential inflows of about USD 10 billion, possibly staged in tranches running until around 2030 in the base case.
- I Said Palantir Stock Would Top $220 This Year. Here's What It Has to Prove on Nov. 2.
The author maintains his prediction that Palantir will reach $220 per share before the end of 2026, though shares traded at $190 to $198 on Friday. Palantir reports third-quarter earnings on Nov. 2, and he says it needs three things: quarterly revenue above $2.3 billion (management guided to about $2.16 billion, roughly 12% sequential growth versus about 19% in Q2), evidence that its AI sovereignty efforts are producing meaningful business, and an adjusted operating margin above Q2's 62%. Q2 revenue rose 93% year over year to $1.94 billion. He notes the stock is not cheap and says reaching $220 this year will require more than another good earnings report.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.