Three fresh rounds of cuts in the first week of November have pushed 2026's tech-sector toll past 200,000 jobs, according to TrueUp's layoffs tracker, with design software maker Canva announcing the largest single action of the month so far.
Canva said on 4 November that 1,271 employees, 22% of its global workforce are affected by a restructuring that will also merge its product, growth and platform teams into a single unit. Co-founder and CEO Melanie Perkins told staff in an internal memo, reported by TechCrunch, that growth had slowed for the first time in a decade. The company has been building its own AI models to cut costs, but had already reduced its revenue-growth forecast from 30% to 20% in August, according to company disclosures reported by TechCrunch.
Two days earlier, website builder Squarespace confirmed it is cutting about 300 people, or 19% of its workforce, with product and engineering teams bearing the brunt. CEO Anthony Casalena said in a companywide memo, seen by Business Insider, that the company's operating model must adapt, with the goal of creating smaller, leaner teams. Spokesperson Jeff Seedman confirmed the move to TechCrunch, saying the changes were intended to "simplify how we operate, sharpen our priorities" and accelerate growth.
The cuts follow Microsoft's announcement on 26 October that it is offering voluntary buyouts to around 60,000 employees roughly one quarter of its workforce in the US, Canada, India and the UK. Business Insider first reported the offer; Microsoft confirmed it to TechCrunch. Chief People Officer Amy Coleman wrote in a memo published on the company's blog that the program gives eligible employees "more ways to shape their next chapter." Microsoft had already cut 4,800 roles in July. Eligible employees have until early December to decide whether to accept, with those who do exiting by the end of the year.
The pattern across all three companies is similar: headcount is being trimmed in operational and product roles while capital spending on AI infrastructure rises. For workers in product, engineering and middle-management functions, the cuts signal that the restructuring rationale has shifted from post-pandemic overcorrection to a longer-term reconfiguration of how tech companies intend to build and run their businesses.
Sources : TrueUp ,TechCrunch
