As the world remains occupied with the US-Israel-Iran conflict, rising crude oil prices, falling equity markets, and a strengthening dollar, it seems that the companies like Meta, Oracle, Flipkart, and Nokia are utilizing this backdrop as a cover.
Under this, they have shed a substantial portion of their workforce as part of a transition towards AI. The rise of advanced agentic AI tools had already indicated that such layoffs were on the charts. According to experts, it is largely the timing that these companies are leveraging, using the war as a cover to accelerate their AI transition.
Advance agentic tools
With the emergence of advanced agentic AI tools as early as January-February, it had already become evident that AI-led workforce changes were not far off. However, companies appeared somewhat cautious at first, especially amid growing concerns and public discourse around human-AI replacement. Now, with the current global situation providing a more conducive backdrop, the timing seems to have aligned. According to experts, this moment is enabling companies to streamline operations, reduce excess workforce pressures, and gradually transition towards AI-driven models in a more measured and less disruptive manner.
Job cuts so far
| Company | Estimated Layoffs | Scope | Key Reason / Context |
| Oracle | 20,000 - 30,000 | Global | To fund USD 8-10B AI data center expansion. |
| Oracle India | 12,000 | India | Massive cuts in NetSuite & Engineering (part of global total). |
| Nokia | Up to 14,000 | Global | 15% decline in India sales; restructuring for efficiency. |
| Block (Square) | 4,000 | Global | 40% workforce cut; shift to AI/automation for operations. |
| Atlassian | 1,600 | Global | 10% cut to focus on AI-driven enterprise sales. |
| IKEA (Ingka Group) | 800 | Global | Streamlining corporate functions and office-based roles. |
| eBay | 800 | Global | Investing in AI for automated listings/customer service. |
| 675 | Global | 15% cut as part of an "AI-forward" strategic pivot. | |
| Close Brothers | 600 | UK/Ireland | AI-driven banking shift & £300m legal provision hit. |
| Flipkart | 250 - 300 | India | Performance-linked restructuring and IPO preparation. |
Meta's Restructuring
There were reports that Meta is planning job cuts as part of its restructuring initiative. A few hundred employees have already been laid off across multiple teams, and reports indicate that the company may scale up these reductions further. Broader plans could impact up to 15,000 roles as part of its ongoing cost and efficiency measures.
Speaking about the challenges posed by AI, Jaspreet Bindra, Co-founder and Managing Director of AI&Beyond, said that a recent report by EY suggests that nearly 38 million jobs in India could undergo transformation due to artificial intelligence, signaling a major shift in the employment ecosystem. While AI is set to disrupt conventional roles, it is also expected to create new opportunities in fields such as data science, AI development, and cybersecurity.
Threat over Indian IT jobs
A March 2026 report by NASSCOM, titled "Work Reimagined", underscores a significant shift towards human-AI collaboration that is reshaping India's tech workforce. According to the report, nearly 30% of junior and mid-level employees are at risk or already adversely impacted by AI integration. It also notes that 20-40% of work across Indian tech firms is now being handled by AI agents, particularly in repetitive and process-driven roles. Functions such as manual testing (QA), routine junior coding, and templated customer support are increasingly being automated through tools like GitHub Copilot and Gemini Code, highlighting a clear shift in how work is being distributed between humans and machines.