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Whether It's 'Disruption' or 'Renormalization,' AI Is Killing Tech Jobs—And It's Not Done Yet [Yahoo! Finance]
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US:NASDAQ Investor Relations: phx.corporate-ir.net/phoenix.zhtml%3fc%3d97664%26p%3dirol-irhome
Key Takeaways Meta and Microsoft each confirmed plans to reduce headcount next month as they continue their aggressive investments in artificial intelligence. The tech sector has been hit particularly hard by AI-linked layoffs due to factors including AI's coding abilities, the sector's massive investments in the technology, and "AI-washing." More techies are #opentowork as AI continues to shake up Silicon Valley. Tech giants Meta ( META ) and Microsoft ( MSFT ) are both cutting thousands of jobs as they continue to spend tens of billions on AI. A Meta spokesperson on Thursday confirmed recent reports from Bloomberg and Reuters that the social media giant plans to cut 10% of its workforce, or about 8,000 jobs, next month. Also on Thursday, Microsoft reportedly announced an early retirement program that could reduce its U.S. headcount by 7%. A Microsoft representative on Friday confirmed the accuracy of those reports. Both companies are spending huge sums to develop and run
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