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00:02Tech companies cut 81,747 jobs in the first quarter of 2026,
00:09marking the highest quarterly total since at least the first quarter of 2024,
00:14according to the CoBici letter.
00:16Layoffs more than doubled from the prior quarter
00:19and rose 580% from the fourth quarter of 2025.
00:24March recorded 45,800 job cuts, the highest monthly total in over two years.
00:31Meta plans to reduce its workforce by about 8,000 employees,
00:35while Microsoft is offering voluntary retirement to about 7% of its U.S. workforce.
00:40Companies are redirecting spending toward AI chips and data centers.
00:44Executives said the shift reflects capital allocation decisions tied to growing AI budgets.
00:49For all things money, visit Benzinga.com.
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