Oracle layoff 30,000 - What AI is bringing to us

Block (Square) layoffs almost half its employees

Oracle layoffs 30,000 employees.

In the age of AI, tech companies are laying off more and more people

While there are many causes (e.g. over hiring, change in market landscape, AI automation), the tech companies wouldn't be hiring back these people immediately.

What companies will try to do is to figure out how to use AI to automate those jobs as much as possible without hiring back the same headcount.

A programmer that uses AI to code versus

A programmer that doesn't use AI

If a programmer that uses AI is 2x more efficient than a programmer that doesn't use AI, then a 1000 people organization only need 500 people.

This is why Block (Square) is saying that they are observing the trend and think they can execute this mass layoff while letting AI continue to improve and automate their tasks.

The race between corporations is now becoming who can lay off their employees the fastest to replace with AI.

This will outperform corporations who do not use AI to automate their processes.

Cheers,

Eric

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Eric Seto

Chartered Professional Accountant (CPA)

Chartered Investment Manager (CIM)

Founder of 5MinInvesting.com

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