CNBC reported on April 24 that about 20,000 job cuts at Meta and Microsoft raised concern that an AI-driven labor crisis is here. Meta told employees in April it planned to lay off about 10% of its workforce, roughly 8,000 jobs.
The cuts came at companies that were spending heavily on AI infrastructure, which led some analysts to describe a trade-off between capital spending and headcount. Companies have disputed that AI is the direct cause in many cases.
Source: CNBC