You don’t understand economics if you think AI lay offs won’t affect you.
Recent Layoff Announcements:
1. US Government: 307,000 employees
2. UPS: 78,000 employees
3. Amazon: 30,000 employees
4. Intel: 25,000 employees
5. Nissan: 20,000 employees
6. Nestle: 16,000 employees
7. Microsoft: 15,000 employees
8. Bosch: 13,000 employees
9. Dell: 12,000 employees
10. Verizon: 13,000 employees
11. Accenture: 11,000 employees
12. Ford: 11,000 employees
13. Novo Nordisk: 9,000 employees
14. Microsoft: 7,000 employees
15 PwC: 5,600 employees
16. Salesforce: 4,000 employees
17. IBM: 2,700 employees
18. American Airlines: 2,700 employees
19. Paramount: 2,000 employees
20. Target: 1,800 employees
21. General Motors: 1,500 employees
22. Applied Materials: 1,444 employees
23. Kroger: 1,000 employees
24. Meta: 1,000 employees
AI is officially replacing jobs at mass scale in the US.
Where will all of these people go?
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And the reason is the bubble btw. Not the efficiency
This is the canary in the coal mine, y'all. The AI math doesn't math. Microsoft is offering buyouts for nearly a quarter of it's workforce.
AI adoption for businesses is a 24-month journey in a perfect scenario. They aren't seeing adoption fast enough to offset their CapEx spending... and they aren't alone. Add Anthropic's measly revenue numbers (compared to their CapEx), and hopefully you get the point.
These aren't buyouts because Microsoft found efficiencies with AI, they are buyouts because they (the AI industry) spend trillions (collectively) building the best tools the world has ever seen, and no one knows how to use them. digitalmeld.io/blog/who-is-pa…
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So now you’re a software house dealing with software 🤣 cost is great than the salary of the devs. Much much greater.
Talked to a finance guy today who said his firm has not only totally stopped buying software in favor of building it all in-house, they've actually hired multiple SWEs to do the buildouts, even though their salaries cost more than the subscription fees they were paying. Having tools custom-built for their specific business is just that valuable. So they're not spending less money or saving time, versus the pre-AI world, but they're getting a much higher return on the money and time they are spending. Much to ponder
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Asked question on Claude Chat and my fable usage went from 75% to 95%, ridiculous @AnthropicAI
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