Image via GN — consulting majors technology moves
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Big Tech (sector-wide): Layoffs
120,000 tech jobs cut in 2026 as AI drives industry reset; India's IT sector potentially affected next
The leadership read
Reductions rarely fall evenly, and the read is in the pattern. For Big Tech (sector-wide) in the sector, cuts like this tend to protect — and sometimes deepen — leadership where the company is betting, while thinning the rest. Across Asia, watch which functions keep or add leadership; that is the strategy stated plainly.
Market context: This lands while the Talent Market Index reads 104.6 (Hot) — down 1.9 versus the prior month — and Asia signal share is steady (-1pts).
Big Tech (sector-wide): 1 signal in the last 90 days; 0.1% of MitchelLake's Asia signal flow.
More signals across Asia
Layoffs · Asia
FalconX →FalconX, a digital asset prime broker, cut 10% of its workforce amid prolonged crypto market downturn and is withdrawing its Singapore license application as part of a strategic refocus.
Layoffs · Asia
Tools for Humanity →Tools for Humanity, lead developer of Worldcoin project, conducted layoffs that impacted token price. Worldcoin (WLD) down 97% from March 2024 peak of $11.74, now trading at $0.375. Company facing regulatory headwinds across multiple jurisdictions (Spain, Portugal, Germany, Hong Kong, Brazil, Kenya, Indonesia) with token unlock cliff approaching July 2028.
Layoffs · Asia
Indian Space Research Organisation (ISRO) →Over 100 experienced scientists have resigned or opted for voluntary retirement from ISRO in recent months. The organization is responding by tightening exit rules for personnel working on key missions including Gaganyaan (human spaceflight program).
Layoffs · Asia
ISRO →ISRO experiencing sharp rise in exits among scientific and technical personnel linked to Gaganyaan and key missions. Department of Space has issued directive restricting acceptance of resignation and voluntary retirement requests.
Layoffs · Asia
GoKwik →GoKwik (ecommerce enabler platform) laid off 100–120 employees as part of restructuring and automation initiative. Layoffs primarily impacted customer onboarding and tech teams. Founded 2020, backed by Z47 and Peak XV, raised $68M to date.
Layoffs · Asia
Activision Blizzard →Activision Blizzard, under Xbox parent company, is cutting jobs across the board, including elimination of a small number of roles in China.
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