"Tech Giants Bet Big on AI, But at What Cost? As Meta and Microsoft announce massive layoffs, executives are touting the transformative power of artificial intelligence to boost productivity and reduce the need for human workers. But experts are sounding the alarm, warning that these companies may be using AI as a smokescreen to hide the true reasons behind their job cuts: a slowing labor market, rising costs, or simply a shift in business priorities. With over 92,000 tech industry layoffs in just four months, the trend is clear - but is AI really the answer, or just a convenient excuse?"
Meta to lay off 10% of its staff and Microsoft to offer retirement to 7% of US workforce. Plus, Iron Maiden at 50Good morning.Meta and Microsoft are cutting thousands of employees as they bet big on AI and executives claim that the technology is meeting productivity needs.What have they said about AI? Mark Zuckerberg said in January that AI was making some hiring unnecessary. Mustafa Suleyman, Microsoft’s AI chief, said in February that he believed AI would be able to replace most white-collar work within the next 12 to 18 months.How many tech layoffs have there been in 2026? In four months, more than 92,000 employees in the industry have lost their jobs, according to the tracker Layoffs.fyi. But some experts believe companies may be “AI washing” – using it as cover for a slowing labor market and demand or rising costs. Continue reading...
