Intuit announced it will lay off over 3,000 employees to refocus on AI, TechCrunch reported on May 20. The same day, CNBC reported that Mark Zuckerberg's memo accompanying Meta's layoffs said that "success isn't a given" in the AI era. Meta's cuts were about 8,000 jobs.
Wix CEO announced a 20% workforce cut on May 28, and Coinbase about 700 jobs in May. The wave is notable because many of these companies were profitable when they cut.
Source: TechCrunch