Tech Company Lays Off 5,500 Workers to Invest More in AI, Despite Making $10.3 Billion in Profit
https://futurism.com/the-byte/cisco-layoff-ai-profit
Tech Company Lays Off 5,500 Workers to Invest More in AI, Despite Making $10.3 Billion in Profit
https://futurism.com/the-byte/cisco-layoff-ai-profit
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Submission statement: “companies are no longer hiding their optimism over replacing human labor with AI, an unfortunate reality for those looking to maintain a stable job. But whether this “realignment” will pay off in the long run remains to be seen.
Cisc’s layoffs are also part of another pattern: tech companies saying they are shifting resources to boost their AI efforts and therefore they need to lay off people as part of a restructuring campaign.”
Do you think this will be an ongoing trend with AI and jobs? Do you buy their justifications? Which jobs sectors do you think will be most impacted?