AI Takes the Résumé, Not the Bitcoin — 28K Finance & Tech Jobs Gone Monthly 🤖

Financial activities and information sector payrolls dropped by an average of 28,000 jobs per month through 2026, with Bloomberg attributing the decline to accelerating AI adoption based on government data. Companies in both sectors have been the fastest to deploy artificial intelligence tools across coding, research, and back-office functions, a pattern that has held for several consecutive months.

The trend surfaced in a review of government payroll data published Wednesday. Challenger, Gray, and Christmas separately tracked 45,849 U.S. job cuts in June, the lowest monthly total since December 2025. Technology led every sector, announcing 15,503 cuts in June for a year-to-date total of 139,156, up 83% from 2025. AI has driven 101,743 layoffs so far this year, accounting for about 23% of all cuts the firm tracked. Andy Challenger, workplace expert at the firm, addressed the pattern directly in the company's latest report. "The cuts we are seeing remain concentrated in technology, and artificial intelligence continues to reshape how companies think about headcount," Challenger said.

Individual firms illustrate the scale. Oracle cut 21,000 positions, roughly 13% of its workforce, over the past 12 months, with headcount falling to 141,000 from 162,000; a regulatory filing blamed the reduction on AI adoption. Robinhood has moved to cut 10% of staff while restructuring around AI tools. The shift has also reached college campuses, with students already abandoning computer science degrees as entry-level tech hiring cools.

Not every executive agrees on the cause. Nvidia CEO Jensen Huang has called the habit of attributing layoffs to AI lazy, arguing it makes little business sense to cut workers while companies are still learning to use the technology. Jeff Bezos has also pushed back on AI job fears, saying the technology will lift productivity instead. Public sentiment runs the other way: a recent survey on job fears found Americans rank AI-driven job loss as their top concern. Upcoming Challenger and Bureau of Labor Statistics reports are expected to show whether the 28,000 monthly losses continue in the months ahead.