They’re a biased source since their bonuses depend on those layoffs.
Would you look at that. They kept pushing layoff all the time for fake reasons to increase immediate profit, and now they’ll have another fake reason to do mass layoffs for maximum immediate profit.
What? AI? Who cares about that at this point. It’s like a pretty ribbon on a big gift box to shareholders.
Layoffs of managers.
5% of those layoffs will actually be AI related. The other 95% will be profits related.
100% of those layoffs will be for shareholder short term gain.
Automation of what ?
shareholder value
Can we lay off the CEO first? He’s pretty useless.
Yes.
Who are they expecting to sell stuff to if everyone is unemployed and fighting over an ever decreasing piece of the pie?
Companies will be just selling stuff to the wealthy. Afaik currently already the top 10% wealthy make up 50% of consumerism related revenue.
That’s (really) a political issue, not a company issue. Each company does exactly what it’s supposed to do: maximize profit for their shareholders. Even if they know it will end in a total disaster, they’ll keep doing that. That’s how the system works. Making sure the system works is the job of the policy makers.
Unfortunately, the policy maker is now in the companies payroll and so helps maximize the shareholders profit, there is no one left to look at the bigger picture and/or long term effects.
everyone is unemployed and fighting over an ever decreasing piece of
the pie?Roasted CEO
This type of reporting is frustrating and I really should get off the internet.
These surveys are done by consultanting companies that have large investment holdings. For example in this report one of the surveys is from Mercer, who has an investment wing that has a AUM (asset under management) 1 of $727 Bn according to their website 2. Would there potentially be any sort of chance someone like Mercer never put out a survey that goes against the bullish market driven by AI speculation? Obviously journalists won’t think about these things anymore because that will effect their click rate.
That’s okay. I will choose not to participate in your new economy beyond buying essentials like food.
99% of CEOs
ExpectLooking forward to AI-Driven Layoffs in the Next Two YearsAnyone know of any publicly traded guillotine producers? I’d like to invest early.
Correction: 99% of CEOs are planning to use AI as an excuse to layoff employees to juice quarterly profits. They have zero accountability and golden parachutes, so no skin off of their asses.
Rank and yank, at any excuse. It’s terrible for morale, so blame it on something “beyond our control” … “remaining competitive in the current market” or whatever.
And the stock price bumps from layoffs mean they effectively get to just hand themselves huge raises.
Then parachute and let some other schmuck deal with the fallout
These days it feels more like “then parachute and let a venture capitalist firm buy up the mess, so they can pawn it off to the nearest would-be monopolist”
Pretty much.
Can any ‘ai’ round up billionaires and corporate CEO’s and ‘process’ them through a woodchipper or guillotine?
That’s the only ai company/startup I’m interested in.
https://isaiprofitable.com/ is a good site to see how profitable AI is at this moment…
Including Nvidia in the revenue figure is like asking “Is playing in a casino profitable” and including the revenue of the house in the stats.
I dunno there are some people who have bankrupted multiple casinos.
That must have absolutely ruined them!
Surelly since then nobody ever again trusted their ability to run anything!
but even so, the total including the house is still very negative, here. It would be like… I don’t know, I can’t think of someone in their right mind who could bankrupt a casino 😜
I can think of someone very much not in their right mind who did…
That really shows who profits from all of this and i can only hope that company would implode
spend
Was the site built by coke-addled used-car salesmen on their break?
Not just that - it confuses several financial terms.
CAPEX is one time spend. Revenue is recurring. Take Microsoft, as just one example: They are stuffed with cash abroad - they only bring it home when there’s a moratorium; until then it just sits and waits. It’s much cheaper for Microsoft to spend it outside the US than to take it home - CAPEX that can happen outside the US is often welcomed by the big stock companies as it puts the money to work.
Revenue happens every year. It’s like saying “is this banana stand profitable?” and then answering by saying “well the shed cost 10 dollars and the bananas sell for 5c”. You need more information to understand whether those are good or bad numbers.
And I know - there’s always money in the banana stand!
Haha i dont know
Clarification - these are management driven layoffs. AI doesn’t drive anything, managers replace people with it.
well, not in the sense of “layoffs because AI can do those jobs”, but still AI-driven in the sense of “AI did most of the actual grunt work of laying off those people”.
If there is a repetitive and predictable activity that can be automated at this point it’s layoffs. Announcements and internal talking points are already clearly LLM-generated.
“Did” is an interesting word. If somebody dug a ditch I wouldn’t say the shovel “did” the grunt work.
