Microsoft, Intel fire thousands of employees | Reasons behind tech layoffs | Economic Brief

The World is constantly finding new directions, creating new frontiers. That's pretty much how technology continues to take our world by storm. The rise of AI and its applications in the tech space are redefining traditional roles. Product managers are among the key personnel some of the major tech companies laid off. The companies are investing heavily in AI, which is part of the new paradigm. Let's assess the near-term consequences of this investment from job layoff data.

[@UMS9695]

The key reason for the layoffs is the impending recession in the US. AI is the perfect scapegoat for the layoffs. Having collectively pumped in close to a trillion dollars, the ROI is nowhere on the horizon. Excpet for AI based gimmicks, there is not a single product or technology that can give the trillions in ROI. The AI bubble burst is round the corner.

[@davidgreen4038]

Agree. All industries are now laying off in preparation for the next recession. John Deere layoffs have nothing to do with AI.

[@MrHav1k]

@@davidgreen4038 John Deere is literally a computer vision/AI company now though 😂😂

[@AshutoshSrivastavaTimetraveler]

Layoffs happen every year .. nothing new to it😅😅

[@Indrid__Cold]

AI allows a company with a team of ten people to equip two of them with AI tools and dismiss eight of them. AI makes the two remaining employees as productive as the prior ten. If they need to add workers in the future, there will be plenty of desperate unemployed people who will work for less money.

[@ashishkatiyar4240]

Blackmailing governments

[@Sir_Ray_LegStrong_Bongabong]

Bonjour

[@pocalypto]

Am I the only one that gets upset about somebody who lived in poverty talking about technology that they've never seen in their country