Yo' Dog.....I'm reading many of these corporate cuts are due to AI and companies use of it.
Goobersmoocher Day.
Yo' Dog.....I'm reading many of these corporate cuts are due to AI and companies use of it.
View attachment 18044
Key Points
While the proliferation of generative and agentic artificial intelligence is playing a role, recent job cut announcements from companies like Amazon, UPS and Target are about a lot more than just the advance of new technology.
- Corporate giants Amazon, UPS and Target each announced layoffs in recent weeks totaling more than 60,000 jobs cut this year.
- In the absence of the Bureau of Labor Statistics’ monthly jobs report, the layoff announcements have raised questions about the strength of the labor market and if it’s the start of an AI-driven, white-collar recession.
- While some companies investing in artificial intelligence are looking to cut costs elsewhere, the layoffs more likely signal concerns about the economy and a slowdown in consumer spending, according to experts.
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Some companies have outright said they’re replacing workers with AI. Klarna CEO Sebastian Siemiatkowski said in May the company was able to shrink its head count by about 40%, in part because of AI. Duolingo said in April it’ll stop using contractors for work that AI can handle. Salesforce
laid off 4,000 customer support roles in September, saying that AI can do 50% of the work at the company.
But experts interviewed by CNBC said some companies could be “AI-washing” their job cuts, blaming layoffs on the new technology to cover up business fumbles and old-fashioned cost cutting.
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Rise of the AI Job-Killing Machines
Amazon, Paramount Skydance and others have made mass layoffs. Is AI the culprit?variety.com
Watch it Fido, names Goober and don't you forget it.