#ai

PP is cutting again - this time is massive almost a quarter of all employed. It's going to be about 300 people which in the grand schema of things is not that big but for us at PP it's the biggest round ever - the impacts are massive. JH got her promo, kudos girl, but you are responsible for the mess as much as anyone else. this time they are not blaming it on ai cause by now everyone knows that story is all bs. i shall be back with a rant on RTO and all failed promises the execs sold us over last few years. well done jill.

thanks to AI historical market miscomprehensions around Cisco have turned positive-- how long will it last?

Pennsylvania experienced widespread job losses in early 2026. The state's unemployment rate rose to 4.2 percent. Amazon cut nearly 1,000 employees across several counties. Other companies like Vertex, Saks, and Liberty Home Choices also announced significant layoffs. Store closures and AI adoption contributed to these workforce reductions.

https://patch.com/pennsylvania/across-pa/major-store-closures-job-cuts-hit-pa-2026

Did anyone else catch the call this morning talking about locations being closed (context seemed to apply to store and offices). They said they are creating ai gems to define profitability and determine if neighboring locations would absorb customers.

Siemens Management Call Today discussed massive layoffs coming through 2027 upwards of 20,000 employees globally. Massive restructuring underway for all business segments through 2028. Divestment of many areas due to AI adaptation and automation.

“Following the rollout of AI, supervisors appear to have increased pressure on work output and results. They now seem to expect near-perfect performance from a hybrid coax plant that is fundamentally imperfect.”

I’ve noticed that leaders keep pushing for AI when we actually need more automation. AI is not deterministic and is a struggle to implement. If they want correct answers 100% of the time, why not implement automations instead? Makes no sense…

https://www.livemint.com/market/stock-market-news/oracle-layoffs-30-000-jobs-cuts-to-be-completed-by-june-15-despite-booming-cloud-ai-growth-and-strong-earnings-11780391629986.html

GitLab announced a restructuring plan impacting its global operations. The company is cutting 350 jobs, which represents about 14% of its workforce. Shares climbed after stronger-than-expected sales and an improved annual outlook. GitLab's revenue increased 23% to $264.2 million for the recent quarter. The company is promoting its new Duo Agent Platform for AI software tasks.

San Francisco, California

https://ts2.tech/en/gitlab-shares-rise-on-stronger-ai-outlook-350-layoffs-announced/

Is there any truth behind a mid year focus on impacting remote employees? I heard there is but can’t comprehend how we can continue to lose people while the scope of work increases. ODW isn’t helping with workload (at least yet) and using AI only provides a temporary security blanket to speed some things up (while quality goes down).

DL mentioned on the Global Solutions all team call that apparently Claude Code access was only meant for him and a few others at AVP/SVP level - instead, everyone that ultimately report to them globally got access. I wonder what the actualy budget was?

I saw the announcement that their AI tool deep research was released. It seems barely useable, and Bloomberg’s tools are miles better. They’ve been supposedly building this for years.

Are people at LSEG even doing any work or is this all a giant fraud?

Intel layoff people don’t have to wait until the end of the year for broken chips

https://www.tomshardware.com/laptops/nvidia-unveils-rtx-spark-superchip-at-computex-2026-new-platform-promises-to-turn-windows-into-an-agentic-ai-os-with-arm-cpu-blackwell-gpu-and-128gb-unified-memory

Intel is suffering a shortage of cutting-edge laptop chips built on its own 18A process node, hampering plans by computer makers to ramp up production, multiple sources told Culpium.

https://www.culpium.com/p/intel-is-struggling-to-supply-laptop

There's no winning.

Honestly, are there any other teams that have management that just regurgitates whatever Claude spits out at them? It’s really hard to take anyone seriously when they don’t even do their own writing, problem solving and communication. It’s obviously a balance, but I literally don’t have any trust left for reading anything anymore.

As we know big companies are already laying off people for AI. What about companies like Cigna? Is it matter of time before they use AI as the reason ?

Title says it all.

Uber burned through its entire 2026 AI budget in four months. Now its COO is questioning whether it’s worth it
https://fortune.com/2026/05/26/uber-coo-ai-spending-tokens-claude-code/

Matter of time when China will dump cheap LLMs.

I'm seriously asking. Is there even one? Layoffs have only managed to cut useful, productive people who were valuable to their teams and the company. I, for one, can't pick up the work left by people who were recently laid off, even if I wanted to. And I don't want to. AI isn't replacing anyone in any functional way. So the endgame is to squeeze the last drop until everything falls apart?

Finally we are recovering, i think this is a great long term hold with our pivot to AI

Thank you to our fearless leaders

Take your books and go small / independent while you can. HO will say the AI tools are to help you but they are studying you and will automate you. They watch your habits and clients closely and are making FA agents now. They will squeeze the ranks, push you into team offices, make you use AI, build client relationship with the team generally over you personally, and push you out gradually. They think a new hire with AI can do your job for much less pay. That’s the plan.

According to this CNBC story, CVX is leading companies like Google and Microsoft in adopting AI. Really?

(https://www.cnbc.com/2026/06/01/nvidia-meta-walmart-among-top-companies-adopting-ai.html?__source=iosappshare%7Ccom.microsoft.msedge.OpenExtension)

A full year of continuous layoffs is something rarely seen at this scale. Many companies underestimated the value of experienced employees and overestimated AI’s ability to replace them. The biggest mistake is believing technology alone can replace knowledge, judgment, and human expertise.

TechFlow news, June 1: According to the Financial Times, Intel (INTC.O) plans to launch an AI chip by year-end that will use less expensive memory and cooling technologies compared to competing chips from NVIDIA and AMD.

Intel targets Nvidia with new AI chip by year end
https://www.ft.com/content/3ca15070-c1c7-4ec2-9598-e36b7de47bc0?syn-25a6b1a6=1

Dan’s goal isn’t to usher in a workplace utopia so let’s stop philosophizing about how AI should be used in theory. It’s just not going to happen!

Remember it’s the good old cut throat Verizon company culture we’re talking about here.

My neighbors ask me all the time when did Dell become so toxic? I tell them it's been this way for many years. But lately, it's accelerated because our inept, incompetent, inexperienced, nepotistic leadership clowns started thinking it could replace employees with AI chatbots. All driven by greed. Dell leadership or HR absolutely DOES NOT CARE about employees.

Laying off skilled employees just because of AI may become one of the biggest mistakes made by many CEOs. AI is a tool, not a complete replacement for human expertise. Companies that remove experienced workers too quickly risk losing knowledge, innovation, quality, and customer trust while facing growing AI costs and mistakes. The smartest strategy is to use AI to support employees, not replace them entirely.

https://www.axios.com/2026/05/28/ai-spending-roi-enterprise-costs

American Express employed 76,800 people globally as of December 31, 2025. This included approximately 29,500 workers in the US and 50,900 internationally. The company added 1,700 employees in 2025, a 2.3% increase. American Express did not announce major company-wide layoffs in 2024, 2025, or early 2026. The company focused hiring on growth areas like technology and operations.

New York City, New York

https://www.thestreet.com/investing/stocks/american-express-employees

Wisconsin's job market is experiencing a cooling trend. This mirrors a national deceleration in economic growth. New graduates face challenges finding work, though openings exist. AI's long-term impact on job substitution remains unclear. Healthcare and construction show growth, and retirements create many opportunities.

Wisconsin

https://pbswisconsin.org/news-item/scott-hodek-on-wisconsins-job-market-layoffs-and-ais-role/

How will Cisco present its AI work? Those getting laid off were not allowed to represent CL even if their speaker sessions were approved. Anyone LRed able to go?

AI is making many mistakes, especially in testing and validation. In many organizations, employees are becoming overly dependent on AI and are gradually losing fundamental problem-solving skills. AI is a tool, not a complete solution. Without strong domain knowledge and fundamentals, AI-generated results can be inaccurate and sometimes create bigger issues than they solve.

Many companies are rushing to automate everything with AI, but blindly trusting AI outputs can lead to costly mistakes, rework, and quality problems. In addition, the increasing use of AI models results in higher token consumption, growing infrastructure costs, and expensive subscription fees.

The most effective approach is to use AI as an assistant while keeping experienced employees involved in critical thinking, verification, testing, and decision-making. Human expertise combined with AI is far more valuable than relying entirely on AI.

Many companies rushed to replace employees with AI, but the reality is that advanced AI tools like Claude and others can become expensive at scale and still require human oversight. It wouldn't be surprising if organizations start correcting course and increase hiring again. The best results often come from AI assisting employees, not completely replacing them. The next few years may see many companies finding a better balance between technology and human talent.

JP Morgan amd BOA have started cutting middle managers/regional presidents/retail area execs. Is thisbhappening at Fifth Third? Ai spend is really ramping up now!!!

And the whole pushing AI up our throats , our customers are better at AI than us.

I have a feeling that there will be another round of layoffs in next few months

Standard Chartered plans to cut more than 15% of its corporate function workforce by 2030 as it expands the use of AI and automation across the bank. The restructuring could eliminate more than 7K jobs globally, affecting back-office and support functions. Standard Chartered currently employs around 80K people worldwide and operates extensively across Asia, Africa, and the Middle East.

CEO Bill Winters said the reductions will be driven by automation and wider adoption of artificial intelligence. The bank expects some employees to be reskilled, but the overall direction is clear: fewer human workers will be needed as AI takes over routine operational tasks. The announcement comes as Standard Chartered raises its long-term profitability targets, aiming for returns above 15% by 2028 and 18% by 2030. Investors appear to support the strategy, with shares moving higher following the announcement.

This is another example of a growing trend across large corporations. AI is no longer being positioned solely as a productivity tool. It is increasingly being used to reduce headcount and streamline operations.

For employees in banking, finance, operations, compliance, risk support, HR, and other corporate functions, the question is becoming harder to ignore:

If a global bank can eliminate 7,000 jobs through automation, how many similar roles across the industry could disappear over the next decade?

Thoughts from current or former Standard Chartered employees?

Standard Chartered CEO Bill Winters is facing backlash after telling reporters the bank plans to replace "lower value human capital" with AI.

The phrase immediately sparked criticism, with many interpreting it as a reference to employees whose jobs may be automated. While Winters later apologized and said he was referring to workplace transformation rather than the value of workers, the comment has continued to circulate widely on social media.

The controversy highlights a growing tension across industries as companies accelerate AI adoption. Workers are increasingly concerned that executives view AI primarily as a cost-cutting tool, while leaders argue that automation will improve efficiency and reshape job responsibilities.

Regardless of intent, the phrase "lower value human capital" struck a nerve. For many employees already worried about AI-driven job displacement, hearing senior leadership discuss workforce changes in those terms reinforces concerns about how companies view their people.

As banks and other large employers continue investing heavily in AI, expect greater scrutiny of both workforce reduction plans and the language executives use when discussing them.

Was this simply a poor choice of words, or an honest glimpse into how some executives view employees in the AI era?