Our earlier piece, Tech Company Bloat: 2019 vs. Peak (COVID Hiring by the Numbers), showed how headcount exploded from 2019 to 2021–2022. This is the after: where the same companies stand in 2025–2026, once the punch bowl was taken away and layoffs began.
Peak vs. 2025–2026 Headcount
Figures below are full-time or equivalent employees. "Peak" is from the earlier article (higher of 2021 or 2022). "2025–2026" uses the latest reported or widely cited figures (year-end 2025 or early 2026 where noted). Not every company reports on the same schedule, so some rows are estimated or from the most recent filing.
| Company | Peak (yr) | Peak headcount | 2025–2026 | Change from peak |
|---|---|---|---|---|
| Block (Square) | 2022 | ~12,500 | ~6,000 | −52% (post–Feb 2026 cut) |
| X (Twitter) | 2021 | 7,500 | ~2,840 | −62% (post–Musk) |
| Shopify | 2022 | 11,600 | ~8,100 | −30% |
| Intel | 2022 | 131,900 | ~108,900 | −17% |
| Meta (Facebook) | 2022 | 86,482 | ~78,865 (Dec 2025) | −9% |
| Amazon | 2021 | 1,608,000 | ~1,576,000 (Dec 2025) | −2% |
| Salesforce | 2022 | 73,541 | ~72,680 (Jan 2024) | −1% |
| Alphabet (Google) | 2022 | 190,234 | ~183,000–186,000 (2025) | −2% to −4% |
| Microsoft | 2022 | 221,000 | ~225,000–228,000 (2026) | +2% to +3% |
| Nvidia | 2022 | 22,473 | ~36,000 (2025) | +60% |
| 2022 | 3,987 | ~4,666 (FY2024) | +17% |
Sources: Company 10-Ks and earnings (Amazon, Meta, Alphabet, Microsoft, Block, Shopify, Intel, Nvidia, Salesforce); Wolf Street (Alphabet/Amazon 2025); Statista; SEC filings; press reports (Block Feb 2026 layoffs; X/Twitter 2025).
What the Numbers Show
Block is the sharpest drop in relative terms: from ~12,500 to ~6,000 after the February 2026 cut. It's the clearest "after" of the COVID bloat story. X (Twitter) is down massively from its pre-Musk peak; the 2025 figure reflects post-acquisition layoffs and then some rehiring. Shopify, Intel, Meta, Amazon, Salesforce, Alphabet are all below or roughly flat with peak—trimming from the top of the COVID hiring wave. Microsoft is slightly above peak; hiring in AI and cloud has offset cuts elsewhere. Nvidia and Pinterest are meaningfully above peak, driven by AI growth and business expansion.
So the "after" is mixed: several big names are still near or above peak (Amazon, Microsoft, Alphabet in the aggregate), while others have clearly unwound (Block, X, Shopify, Intel). The unwinding is real but uneven—and the next wave of layoffs will keep shifting these numbers. For the "before" that got us here, see Tech Company Bloat: 2019 vs. Peak (COVID Hiring by the Numbers).
Sources: Company 10-Ks and quarterly filings (Amazon, Meta, Alphabet, Microsoft, Block, Shopify, Intel, Nvidia, Salesforce, Pinterest); Wolf Street (Feb 2026); Statista; SEC Exhibit 99.1 filings; press releases and earnings reports (2025–early 2026). Peak figures from Tech Company Bloat: 2019 vs. Peak (COVID Hiring by the Numbers).