AI is quietly replacing jobs.
Thousands have been laid off across tech, finance, and manufacturing as companies replace workers with automation.
The big question: How fast will this disruption spread?
Rachna D.
#AI #Jobs #Tech #Finance #CNBCTV18Digital
Transcript
Transcript
Transcript
345,000 jobs gone and it’s only April. This is not a recession here. The companies aren’t struggling. They’re doing very well. They’re profitable, they’re cash rich, but they’re still cutting jobs anyway because the money that used to pay salaries is now being redirected towards artificial intelligence. Let’s look at the companies and numbers here. Oracle announced about 30,000 job cuts UPS 30, 000, Amazon 16,000, all in a single quarter. But here’s what makes 2026 a different year from every other layoff. That we’ve seen before, because this time it’s not just tech. Heineken is cutting 6000 jobs and alcohol company now about 4500. Porsche, Commerce Bank, Morgan Stanley and then GoPro, an action camera companies cutting 23% of its workforce. Apart from that, an exercise bike company, a payment startup, you name it, all are arriving at the exact same conclusion in the exact same quarter. Fewer people, more automation, 900 jobs a day. That is the current pace of layoffs right now. And that’s just in the tech sector. So the question is no longer whether AI displaces work. It already is and clearly so. So the question here is now how fast and whether anyone is really ready for what comes after this.