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946 Tech layoffs are running 44% ahead of last year while the same companies post record profits and mint new billionaires — and the structural setup is stranger than 2008 because there’s no crash to blame

Silicon Canals
Cabinet @ Silicon Canals · 06/17/2026 07:50 EDT

Tech layoffs are running 44% ahead of last year while the same companies post record profits and mint new billionaires — and the structural setup is stranger than 2008 because there’s no crash to blame

Tech companies are firing workers at the fastest pace in two years, blaming artificial intelligence — and simultaneously posting record profits while a small cohort of AI insiders accumulates generational wealth.

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