An Oxford Economics report found that many layoffs that CEOs called AI-related were the result of past overhiring, Axios reported on August 20. Nearly six in ten companies in one tracker admit they frame layoffs or hiring slowdowns as AI-driven when the real reason is financial.
The implication is that AI-linked layoffs are partly a communications choice. Employees and investors should weigh the stated reason against the company's hiring history. This is the researchers' interpretation of aggregate data, not a finding about any one company.
Source: Axios