"Our next stage of growth requires a different mix of skill sets, particularly in AI and early-stage product development," Dropbox CEO Drew Houston said in his message to staff announcing layoffs.Īt the same time, the focus on AI could mean some jobs are wiped out entirely. The money to hire those people has to come from other departments. "The AI explosion may be a convenient explanation for ordinary mismanagement."Ī pivot to AI could eventually mean these companies have bulked-up teams working on AI products or a greater need for machine learning engineers or natural language processing experts. "Many firms got way out over their skis with over hiring in the first year of the pandemic," he said. Mark Muro, a senior fellow at the Brookings Institute who studies the impact of AI on the economy, believes that some companies may simply be using the AI argument right now as an excuse to cull their ranks. Others have noted that they're redirecting to focus on business sectors with more potential.Īmong them, a handful of companies including Meta, Google, and Dropbox have specifically pointed to a new - or renewed - focus on artificial intelligence in their layoff memos to staff. Some companies have justified these layoffs by pointing to a renewed focus on efficiency and staying lean, thereby putting an end to the pandemic hiring boom and era of "fake work."
Many major corporations have made significant cuts to their workforces this year as the rough market conditions that began in 2022 have continued. Here are how some major companies are pivoting - and axing jobs - as part of an AI push. Matt Winkelmeyer / Getty ImagesĪ number of corporations across tech, media, and finance have made major staff cuts this year.Īt the same, many companies are pivoting to invest more in AI - some even citing it as a reason for cutting jobs. Drew Houston, CEO of Dropbox, cited the "expansion" of AI products in layoff memo to staff in April.
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