Tech companies once blamed layoffs on overhiring and market shifts—now it's AI.
Recent statements from firms like Amazon, Shopify, British Telecom, Duolingo and Klarna suggest that automation is reducing demand for human workers. As these companies pour heavily into AI, they are simultaneously streamlining costs mostly through layoffs. In 2024, 549 tech firms laid off approximately 152,000 employees, according to Layoffs.fyi.
At the same time, many CEOs are championing "AI-first" strategies and touting productivity gains. But the workforce may not be ready, with only 62 percent of employees having received any AI-related training, even as companies push to scale AI across their operations, according to Gartner.
Please select this link to read the complete article from AdWeek.