How Tech Oligarchs Are Using AI Hype to Push Mass Layoffs
Dane Gambrell
Feb 25 2025
Published in: Power At Work
“Earlier this month, software firm Workday announced that it would be laying off more than 1,700 workers – or about 8.5% of its workforce – to redirect investment towards artificial intelligence. The announcement was the latest in a series of mass layoffs that have put hundreds of thousands of workers at Amazon, Intel, Microsoft, and other tech companies out of work over the past several years. Google and Meta are among the tech giants that have cited the need to invest resources in AI development as the reason for cutting jobs. AI is also a part of the rationale behind the raft of mass federal employees layoffs. Much of the narrative about AI and jobs has focused on the threat of automation: what can AI do as well as – or better than – humans? Research on AI-driven job displacement often focuses on forecasting which jobs or tasks machines could perform in the future, and then estimating how many workers might be displaced due to this automation. A report might tell us that 30% of work hours could be automated by 2030, or a study might predict that 5% of work tasks across the economy could be performed by AI in the next 10 years.”