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Multiple gambling companies announced layoffs this week. Penn Entertainment cut over 75 employees from its interactive division. Gambling.com Group reduced its workforce by 25%, impacting around 150 people. LSports, an Israeli data provider, also laid off 39 employees. AI adoption, slowing growth, and new competition drive these cuts. The online gambling industry faces a broader recalibration.
https://frontofficesports.com/gambling-layoffs-pile-up-as-sports-betting-industry-recalibrates/
Wells Fargo will lay off 29 employees in July. These job cuts will occur at its West Des Moines campus. This latest announcement follows previous reductions this year. The bank has cut 217 jobs from this campus in 2026. CEO Charlie Scharf cited AI use as a reason for ongoing layoffs.
West Des Moines, Iowa
https://www.businessrecord.com/wells-fargo-announces-additional-layoffs/
Ford, General Motors, and Stellantis reduced their American professional staff. More than twenty thousand individuals were affected by these cuts. General Motors made the deepest personnel cuts. Ford and Stellantis also decreased their employee totals. AI and other tech advancements contribute to these staff reductions.
Detroit, Michigan
https://www.bitget.com/amp/news/detail/12560605414080
Verizon CEO cuts to the chase on new layoffs and AI future:
As a new wave of job cuts hits Verizon, leadership delivers a blunt reality check on future plans and an AI deadline.
May 11, 2026 5:37 PM EDT
Dan Schulman, president and chief executive officer of PayPal Holdings Inc.
Corum/Bloomberg via Getty Images
The leaner era of Verizon Communications has entered a new phase of targeted reductions. On May 7, the company confirmed a new round of workforce cuts that will affect hundreds of employees.
This move arrives less than six months after the company completed a massive 13,000-person reduction, the largest in the telecom provider’s history.
The heaviest impact of these new layoffs is expected to be concentrated at the company headquarters in Basking Ridge, New Jersey.
According to Business Insider, the latest reduction represents approximately 1% of Verizon’s overall headcount.
And while the company has been conservative with specific headcounts, a recent State Worker Adjustment and Retraining Notification (WARN) filing in May confirms that 121 employees at the Basking Ridge headquarters are scheduled to be laid off on August 7, 2026.
Behind these layoffs and the company’s shifting profits lies a larger story of finance and AI-driven infrastructure aimed at improving efficiency.
Verizon’s $5 billion efficiency mandate
The latest workforce reduction follows a transformative milestone for the company. Earlier this year, in January, Verizon finalized its acquisition of Frontier Communications. The $20 billion deal expanded Verizon’s fiber footprint to 31 states.
During the Q1 earnings call, CFO Tony Skiadas also revealed that Verizon is aggressively pursuing an operating expense (OpEx) savings target of $5 billion by the end of 2026.
The telecom provider has also set an ambitious target of $1 billion in operating cost synergies by 2028.
As Verizon absorbs Frontier’s merger and expands its fiber footprint to almost 30 million passings, the company is also prioritizing automation to manage the expanded network, albeit with a smaller human headcount.
“We have begun to see meaningful cost benefits from our transformation efforts as we take out legacy structural costs from the business,” said CEO Dan Schulman during the call.
Skiadas detailed a relentless strategy to permanently remove $5 billion from the company’s annual spend.
“We’re off to a great start on the $5 billion of cost transformation,” Skiadas told analysts.
The strategy is multi-layered:
Workforce reduction: The 13,000-plus layoffs since October 2025 are the primary driver of savings. Skiadas noted the company is “running leaner” and is cutting “third-party contractor and outsource spend” to keep savings in line.
Legacy decommissioning: Verizon is decommissioning old copper network elements, recycling and “monetizing” them by selling scrap metal.
Real estate rationalization: As the workforce shrinks, the company is also reducing its real estate footprint across administrative and network sites.
The most vital aspect of Shulman’s turnaround is the AI tech stack sprint, designed to address customer pain points by automating digital sales and service.
Verizon, through these AI-enabled channels, aims to lower the cost of retention while defending its customer base.
Schulman, who has usually been upfront about AI’s role in the future, told investors that the company is on a timeline that would have been impossible a year ago.
“We are going to be substantially complete with that entire AI tech stack by July, and we hope to be fully done by November,” he said on the call.
To hit this mark, the company has recruited several “AI-savvy individuals” over the last seven months, adding that “we’ve done more in the last three months than we’ve done in the last three to four years around this.”
Verizon’s stock is up 15% year to date.
The Frontier factor and Verizon’s record profits
The May layoffs coincide with Verizon’s most successful quarter in recent years. According to the company’s recent Q1 2026 financial release, Verizon achieved its first positive first quarter “postpaid phone net adds since 2013.”
Its adjusted EPS also rose to $1.28 per share, a 7.6% year-over-year increase.
By integrating Frontier’s fiber network, Verizon expects at least $1 billion in annual cost synergies by 2028. This merger allows Verizon to stop paying third-party access costs and automate its network management, albeit now with a significantly smaller headcount.
Analysts, meanwhile, remain divided. Morgan Stanley recently raised its price target on Verizon to $50 from $40, keeping an equal weight rating. Noting the improving subscriber growth and competitive intensity in wireless was “encouraging,” the firm said.
However, Este Group downgraded Verizon to hold from buy, saying the company’s earnings growth still lags behind the broader sector average, according to TheFly.
As Verizon works to complete its AI tech stack by July, the company’s message is clear that it intends to continue this cost transformation well beyond 2026.
https://www.thestreet.com/employment/verizon-ceo-cuts-to-the-chase-new-layoffs-ai-future
https://www.dailymail.com/yourmoney/article-15811519/rogue-ai-deletes-company-database.html
I verbally heard in a bunch of meetings where Q3 2027 is when contract renewals are going to happen with US and Canadian staffing agencies and given how the CEO and the executives have been rooting for "APAC" (India) and AI. There is a huge chance that they are not going to renew their US and Canada contracts.
Amongst all the doom and gloom I think leadership has finally started to talk about doing the basics right. 10 years wasted on trying to be a tech company and now that tech is ubiquitous thanks to AI, the leadership can finally focus on building decent cars again. Here's to hoping for better years after demise of phony leaders 🙏
Do not ask me where I got this from. This is the layoffs plan:
Leadership has determined a strategic shift to cut costs, invest in AI, reorganize priorities. Finance and HR has identified which teams, roles, or locations will be reduced, mostly around Engineering. Managers are evaluating employees based on performance, role relevance, and compensation, while HR and legal reviewing the plan for compliance with labor laws and discrimination risks (Yes, external consulting firm involved).
Once finalized, affected employees are notified (by this month) — often through meetings or emails — with system access revoked immediately. Intuit will make announcement via public messaging framed around terms like “restructuring” or “AI transformation” to shape the narrative.
A hiring freeze will remain in effect for the next six months, after which recruitment will resume with a focus on new strategic priorities — even as current employees continue to shoulder heavier workloads within leaner teams and under heightened expectations.
Hope this helps.
Cisco announced job cuts affecting approximately 4,000 roles. This reduction represents about 5% of its global workforce. The company is restructuring to shift resources towards artificial intelligence. These layoffs occur despite Cisco reporting record revenue and profits. Cisco previously laid off a similar number of workers in February 2024.
https://www.thehrdigest.com/cisco-layoffs-set-to-affect-4000-roles-as-ai-redefines-operations/
Don’t get angry. Understand whatever amazing skills you have are not transferrable
Example- why would Nvidia, Anthropic, OpenAI, etc. hire you?
Using AI is building AI. Don’t be confused here.
Details are sketchy at best. But it seems like multiple teams in Palo Alto have been ask to put together a "prove their worth" presentation. My direct manager is as lost as I am, but it seems to have come down from above and involves the use of AI. My feeling is this is the start of infomraton probing, Hock has also been meeting with some directors. Something dosen't feel right, but I hate to jump to conclusions. Anyone else having this BS happen or is it isolated?
It seems to be happening all over again. Usa in favor of other regions or ai
https://www.businessinsider.com/amazon-continues-job-cuts-retail-ai-2026-5
"The Royal Scam"; an album title from early Steely Dan, that is fitting for today's announcement.
Clearly, AI is going to do all the human empathy and communication work of humans...
Just wait until the AI bubble bursts and companies realize it can’t do half the things they expected it to do, and that in a lot of cases it’s actually slowing people down instead of helping. I don’t know if this leadership is capable of that kind of reflection, but maybe then they’ll think about all the talent and institutional knowledge they pushed out in the rush to chase AI.
Colorado introduced new legislation to regulate artificial intelligence. House Bill 1210 addresses surveillance pricing and wage setting. It prevents discrimination using algorithms based on collected data. Employers must ensure data accuracy and provide access to information. Governor Jared Polis still needs to sign the bill into law.
https://www.thehrdigest.com/colorado-moves-to-regulate-ai-surveillance-pricing-and-wage-setting/
Due to AI, expect up to 30% cut in Engineering.
Goldman Sachs is deploying generative AI to automate back-office tasks. President John Waldron stated this initiative will not cause mass layoffs. He expects the company's overall headcount to remain stable. Goldman Sachs Research estimates AI could expose 300 million jobs globally. Analysts remain skeptical, noting potential impacts on entry-level roles.
Manhattan, New York
https://hoodline.com/2026/05/goldman-boss-pushes-ai-factory-floor-swears-manhattan-jobs-won-t-vanish/
Cisco Systems announced layoffs affecting fewer than 4,000 employees. This reduction represents less than 5% of its total workforce. The company reported a record quarterly revenue of $15.8 billion. Cisco is reallocating investments towards artificial intelligence priorities. The restructuring program is expected to cost approximately $1 billion.
https://www.peoplematters.in/news/strategic-hr/cisco-announces-5percent-layoffs-while-posting-record-dollar158-billion-revenue-49730
Gwyneth Paltrow's company, Goop, recently experienced staff layoffs. The company is transitioning to an AI workflow. Profitability and artificial intelligence are cited as reasons for the cuts. The exact number of affected employees remains unclear. A spokesperson stated Goop is adapting for efficiency.
https://www.tmz.com/2026/05/13/gwyneth-paltrows-goop-layoffs/
Every week: new awareness mail, new policy, new mandatory training, new dashboard screenshot. Engineers asked for AI acceleration - instead they got Outlook copilots managing Copilot.
Cheaper workers, offshoring, AI - whatever works. If they could charge us for the privilege of working here, they would.
Don’t think this will last, you will have your good MOW’s and you think you will sit at home sending emails and watching TV. Sooner we will get the AI scheduling program that will not only assign you stores to hit every week,but you will be tracked with GPS again. So to the one’s that think it’s not so bad, will see how you fall in 6 month’s
4 places you want to be…
Cisco announced another wave of mass layoffs this week. The company plans to cut fewer than 4,000 jobs. This amounts to less than 5% of its total workforce. This decision comes despite Cisco reporting a record revenue of $15.8 billion. The company is shifting investments toward artificial intelligence.
San Jose, California
https://www.sfgate.com/bayarea/article/cisco-layoffs-bay-area-22257875.php
is it just me or do people have mass selective blindness !!
this was on the latest BOD meeting vote ...sent to all qcom employees and shareholders:
Oklahoma Tobacco Settlement Endowment Trust(TSET) was requesting QCOM release a report about our exposure and biz in china .....what was the recommended vote from the board??
AGAINST !!!
TSET is one of our biggest shareholders btw.....so our own shareholders are suspicious and demanding critical info about the company health....and our board recommends the voters to vote AGAINST it......ain't that in and of itself ....SUS ?!?
looking forward to the AI hype train .....just like i did to the compute X elite one !
Qualcomm’s CEO is working with ‘pretty much all’ major AI players on top-secret devices—and powering OpenAI’s first push into hardware
https://finance.yahoo.com/sectors/technology/articles/qualcomm-ceo-working-pretty-much-102600275.html
All AI heavyweights are traveling on Air Force One since yesterday.
Cisco's true job is laying off Americans and hire cheap labors at India and Mexico
Reading between the lines: companies should accelerate their use of AI to streamline [Read: reduce headcount] their organizations.
Arvind Krishna says the key to unlocking returns on AI is less about technology alone than a wholesale shift in the way companies approach their workflows
By: Steven Rosenbush
Updated May 5, 2026 3:33 pm ET
International Business Machines CEO Arvind Krishna says maximizing returns on investment in artificial intelligence requires a fundamental restructuring of business workflows rather than just adopting new technology.
The use of AI within a company typically evolves from the individual contributor to small teams, cross-functional groups and ultimately the entire organization. As a company progresses from one stage to another, so do the potential returns on AI investment. That’s less about technology alone than it is about updating age-old processes and social dynamics, according to Krishna.
“In the next year or two, the enterprise world will sort into two camps: companies where AI runs their business, and companies where AI is still a project,” Krishna said.
The line between those companies that make broader use of AI and those that don’t won’t simply come down to technology. “It will be their operating model,” Krishna said.
IBM on Tuesday at its Think conference in Boston announced a slew of products and capabilities, including a new version of watsonx Orchestrate, a secure multiagent control plane, and IBM Bob, for securely building and deploying agents.
While model developers are competing to stay one step ahead of each other, IBM is approaching AI from a different angle, helping its clients scale their AI efforts. AI is a core part of the technology giant’s strategy.
Last month, IBM reported higher first-quarter revenue of $15.92 billion and higher profit, driven by growing adoption of artificial-intelligence tools. While the numbers were ahead of expectations, the stock price fell. To some extent, that reflects the fact that IBM has been caught up in broader AI-driven concerns about software, but Ben Reitzes of equity research and consulting firm Melius Research has a buy rating on the company. “I’m excited…to see their AI-related business come of age,” he said.
Client zero
The use of AI at many companies began in earnest in recent years with proofs of concept. The experimentation stage has led to the greenlighting of many projects. Now companies are looking to move to the next stage, or enterprisewide deployment of AI. That’s potentially more rewarding, but also much more complex from an organizational perspective.
Krishna cited the evolution of IBM’s internal human-resource processes as an example of the operating model behind enterprise-level scaling.
In the pre-AI era, Krishna said, if an employee requested an employment verification letter to support an apartment rental application, the workflow required up to 18 different human touchpoints, including a manager, an HR business specialist, back-office staff and multiple software systems.
Today, an employee can generate the letter by making a request to an internal bot called “Ask HR.” The AI agent, integrated into IBM’s security network, automatically verifies the employee’s identity, pulls the required data from the HR system and sends the letter. All the employee has to do is specify how the letter should be delivered. The 18 touchpoints have been reduced to just one, according to Krishna.
To enable AI to scale across the enterprise, processes need to be redesigned end to end, according to Krishna. IBM’s Project Bob, as the initiative was known internally before it became a product, was designed to manage the entire software development life cycle, from writing new code to patching old code, generating documentation, creating test cases and ensuring security compliance, he said.
“I don’t begin with eliminating steps. I begin with how many touch points can I take out? And how can I make it much more nimble and faster and end-to-end? That’s the goal. Out of that comes the fact that you should eliminate steps,” Krishna said.
If people lose their jobs as a result, “I get to redeploy them, to do something else of more value,” Krishna said.
IBM has made progress rethinking its operating models, but more work lies ahead.
The hard part
Elevance Health Chief Digital Information Officer Ratnakar Lavu said AI is transforming the way the insurance giant works. The company, a longstanding IBM customer, is working with IBM to deploy AI-driven digital assistants. IBM said it is also one of the providers that helps Elevance with AI applications such as claims and approvals. Elevance works with other AI companies on a range of applications, too. For example, it has also rolled out an internal, OpenAI-powered tool called “Spark” to help its workforce operate at peak productivity. And it applies AI to the claims and approvals process.
Through a virtual assistant, the insured can ask complex questions about their benefits, such as whether knee pain treatments are covered, and receive instant, cost-optimized provider recommendations, according to Lavu.
Like Krishna, Lavu said the successful deployment of such AI applications demands a careful recalibration of business processes across the firm. In his experience, that effort requires a deep collaboration between business and technology teams. And instead of thinking about the work as an IT project, the insurer is focused on the end-user experience. Rigorous AI governance that integrates bias testing, transparency and explainability are part of the effort from the start. As solutions are built and deployed, a parallel governance process takes place, making sure they perform ethically and within strict enterprise guidelines, Lavu said.
There are plenty of challenges along the way. Official documentation hardly ever matches the reality of how work is actually done. Businesses are bogged down by deeply embedded business rules and legacy systems. And redesigning a process with AI requires establishing entirely new checks and balances to ensure the effort doesn’t inadvertently skew key performance indicators or lead to unintended outcomes, Lavu said.
Those redesigned processes need to be connected to one another, too. For example, he said, the newly redesigned prior authorization process must continuously communicate with the newly redesigned benefits process. Only by connecting such end-to-end workflows can a company streamline operations, eliminate bottlenecks and see the full realization of AI investments, according to Lavu.
And while Elevance is seeing significant success and clear ROI in the redesign of the individual process around AI, the company “still has work to do in the connectivity of processes to see the net outcome.”
That’s the end-to-end connectivity approach driving IBM’s work. And while IBM has made progress rethinking its operating models, more work lies ahead, according to Krishna.
“I think it’s early days. We’re only a third of the way through what can be done,” he said.
Cisco to cut about 4,000 jobs in AI-focused restructuring as orders surge
https://www.reuters.com/technology/cisco-raises-annual-revenue-forecast-2026-05-13/
Read the memo: Cisco to cut about 4,000 jobs in AI-driven restructuring
https://www.businessinsider.com/cisco-announces-4000-layoffs-ai-driven-business-shift-2026-5
Cisco To Cut Nearly 4,000 Jobs In Restructuring Push Around AI, Security
https://www.crn.com/news/networking/2026/cisco-to-cut-nearly-4-000-jobs-in-restructuring-push-around-ai-security
Bay Area tech giant Cisco to cut thousands of jobs after record revenue
https://www.sfgate.com/bayarea/article/cisco-layoffs-bay-area-22257875.php
Cisco to Shed Jobs for All-In AI Push
https://www.wsj.com/business/earnings/cisco-to-cut-jobs-in-shift-to-capture-more-ai-demand-b99eeb21
Cisco to cut jobs so it can invest more in AI, and the stock rockets toward a record
https://www.marketwatch.com/story/cisco-to-cut-jobs-so-it-can-invest-more-in-ai-and-the-stock-rockets-toward-a-record-cf9d09a9
Cisco Soars on Sales Forecast, AI-Focused Restructuring Plan
https://www.bloomberg.com/news/articles/2026-05-13/cisco-gives-better-than-anticipated-forecast-plans-to-cut-jobs
Cisco Earnings and Revenue Beat Estimates on Strong AI Demand. Its Shares Surge.
https://www.barrons.com/articles/cisco-earnings-stock-price-f649ed14
Cisco Earnings, Revenue Beat As Stock Hits Record High Amid Strong AI Orders
https://www.investors.com/news/technology/cisco-stock-cisco-earnings-artificial-intelligence-q12026/
Cisco announces layoffs with Q3 results
https://seekingalpha.com/news/4592518-cisco-announces-layoffs-in-conjunction-with-q3-results
Cisco CEO says reducing workforce in Q4 by fewer than 4,000 jobs
https://www.tipranks.com/news/the-fly/cisco-ceo-says-reducing-workforce-in-q4-by-fewer-than-4000-jobs-thefly-news
Cisco unveils $1B overhaul, about 5% job cuts after posting blockbuster Q3 results
https://uk.investing.com/news/earnings/cisco-unveils-1b-overhaul-about-5-job-cuts-after-posting-blockbuster-q3-results-4676309
Cisco announces 4000 layoffs as Q3 earnings beat amid 'broad-based demand'
https://finance.yahoo.com/markets/live/earnings-live-updates-cisco-announces-4000-layoffs-as-q3-earnings-beat-amid-broad-based-demand-103000342.html
CISCO REPORTS THIRD QUARTER EARNINGS
https://investor.cisco.com/news/news-details/2026/CISCO-REPORTS-THIRD-QUARTER-EARNINGS/default.aspx
Team,
Today we announced our Q3 FY26 earnings with record revenue of $15.8 billion, up 12 percent year over year, and double-digit top and bottom-line growth. The ELT and I could not be prouder of the growth you have all delivered for Cisco.
These results are even more impressive given the complex environment we’re operating in - a rapidly changing market, with intensifying competition, and a global shortage of components critical to support our portfolio and the AI buildout from our customers.
The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest. I’m confident Cisco will be one of those winners. This means making hard decisions - about where we invest, how we’re organized, and how our cost structure reflects the opportunity in front of us.
With this, we are making changes today that will result in the reduction of our overall workforce in Q4 by fewer than 4,000 jobs, representing less than 5 percent of our total employee base. Most notifications will begin on May 14 and continue globally in alignment with applicable local laws and regulations. For employees whose roles are impacted, leaders will share details directly - including timing, available resources, support, and benefits in each country. This will include pro-rated payment of FY26 bonuses to impacted employees. We will provide support in finding new opportunities, whether internal or external, through Cisco’s placement services - a program that has seen 75 percent of participants discover their next role. We are also committed to continued personalized learning and will provide one year of access to all Cisco U courses and certifications, covering AI, Security, Networking, and more.
While we are reducing roles in some areas, we are making clear, strategic investments - particularly in silicon, optics, security, and in our employees’ use of AI across the company. These investments are building from a position of strength - and focusing on the technologies and businesses that will accelerate our growth, deliver unmatched innovation to customers and partners, and define our future.
To those leaving Cisco, thank you for your contribution, your dedication, and the mark you have made on this company. We are deeply grateful and are committed to handling this transition with the care, clarity, and respect that defines our culture.
For those who will continue here, we will discuss these changes and answer questions at the Cisco Beat on May 21 at 8 a.m. PT.
We have important, impactful, and consequential work ahead. Your focus, resilience, and leadership are vital to our growth and relevance in FY27 and beyond.
Chuck and the Executive Leadership Team
Does Ford feel like they're ready to jump on this AI downsizing bandwagon? We are a tech company now.
What’s the magic word these days, strategy?
Because I have to ask, what actually makes a company great?
Is it the awards? The software? The return to office mandates? The endless systems and process changes that somehow make everything more complicated but never better?
Is it leadership that rebrands failure as transformation, then asks employees to trust the next pivot?
Is it accountability, or just accountability for everyone below a certain level?
Maybe greatness now means HR has enough time to monitor salaried employees’ attendance but not enough influence to protect institutional knowledge, experience, or morale.
And maybe AI really is the perfect corporate employee. It never pushes back, never says “this does not make sense,” and never reminds leadership that people actually matter.
But what is the strategy here? Not the slogan. Not the slide deck. The actual strategy.
Because from where a lot of employees sit, it does not look like a strategy. It looks like churn. New systems, new processes, new messaging, new priorities, every few months, while the people who know how the business actually works are treated like interchangeable parts.
A company is not great because it says it is. It is great when leadership knows where it is going, tells the truth about where it is, and respects the people who built the place before asking them to believe in the next transformation. Endless transformation isn't "transformation" it's chaos that drives poor quality, subpar results and unhappy employees.
Below nineteen it closed, a sad IPO echo,
Back to 2017, where the glory days go.
Pega verdict overturned—dreams dashed on the floor,
Yet they strut into NYC, begging for more.
Investor Day dawns with AI sparkle and spin,
Denial in full bloom: “We’re totally gonna win!”
No prudent path, no debt-payoff pause,
They’re buying back stock without good cause.
Double down, dear Appian, on that futile crusade—
Process and copium, the legacy parade!
The glory days over, the chart in full rust…
Tomorrow’s the show—enjoy the last thrust!
So many employees refused to learn AI skills and adjust.
Wouldn’t surprise me if they were monitoring token usage and decided LRs based on people not even trying to adapt and modernize their skillsets.
self-inflicted stupidity to not adjust to the future.
Page 14 - https://s21.q4cdn.com/812015656/files/doc_earnings/2026/q3/earnings-result/Q3FY26-Press-Release.pdf
On May 13, 2026, Cisco announced a restructuring plan in order to allow it to invest in key growth opportunities including
silicon, optics, security and AI. In connection with this restructuring plan, Cisco currently estimates that it will recognize pretax charges of up to $1 billion consisting of severance and other one-time termination benefits, and other costs. Cisco expects to
recognize approximately $450 million of these charges in the fourth quarter of fiscal 2026 with the remaining amount expected
to be recognized during fiscal 2027.
Spoke at length with some engineers who are working on this. They are "optimizing" the company memory to work with the Palantir AI program. When did we become beholden to American surveillance companies like this? When data leaks happen or when Palantir sells this data to third parties, this is going to bite SAP in the a$$.
Meta employees rallying to stop meta from tracking their work electronically to train AI. Unionization is definitely on the table and they are gearing up for a vote. Is the VZ AI certification just a cover and they are tracking us electronically? We won’t hear about it from Dan because all hands proves zero information.
https://www.techradar.com/pro/meta-workers-revolt-against-mouse-tracking-technology-flyers-ask-if-they-want-to-work-at-the-employee-data-extraction-factory
A new study investigated the financial impact of AI-driven layoffs. Eighty percent of surveyed executives admitted to reducing staff for AI investments. These companies saw no greater financial gains than those retaining employees. Many sacrificed institutional knowledge and goodwill without detectable returns. Companies using AI to amplify employee efficiency achieved the most significant gains.
https://futurism.com/artificial-intelligence/layoffs-ai-automation-backfire