Microsoft, eBay, PayPal among tech giants 34,000 job cuts due to AI
Since the start of this year, Microsoft, eBay and PayPal have axed thousands of jobs in a pivot to artificial intelligence as companies revise their resources. As reported by the Financial Times, tech companies have cut around 34,000 jobs in a matter of weeks as the focus turns to generative AI. In addition to the heavyweight names mentioned above, Snap has also shed a significant number of roles as part of an industry-wide cut of 138 firms that have let staff go. These figures are significant but not quite at the same level as one year previous when Microsoft, Meta, and Amazon culled their numbers. Layoffs.fyi — indicated 263,000 role...... Read Full article on HadNews