One in five Americans laid off because of AI has been offered their job back by their former employer. 🫥
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🔻 The wave of layoffs in major companies, long predicted due to AI, is now a reality — over the past few days, four giants announced mass cutbacks all at once:
• American Express: 5% of staff, ~3,500 people;
• Barclays: 5,000 jobs, because "AI provides efficiency";
• eBay: ~9% of personnel;
• Netflix: 6% of employees, ~1,000 people (WSJ).
Microsoft wants to lay off 27% of employees as AI rolls out
Around 60,000 employees in the US, Canada, India and the UK have been offered buyouts with severance pay. Even vice presidents are among those affected by the cuts.
Netflix has announced layoffs of 6% of its staff, or about 1,000 employees worldwide, the largest wave of job cuts in the company's history, WSJ reports.
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