Reported about 14 hours ago
Global companies are significantly reducing their workforce, driven by declining consumer sentiment and increasing automation, particularly in sectors vulnerable to AI. In October alone, over 25,000 job cuts have been reported in the U.S. by major firms like Amazon and Nestlé, raising concerns about the broader economic implications. As executives face pressure to demonstrate the profitability of AI investments, many are focusing job reductions on white-collar positions. While job growth remains low, experts warn that this trend could further impact consumer confidence and economic stability.
Source: YAHOO