FACTBOX-Companies cutting jobs as investments shift toward AI
Feb 27 (Reuters) - Investors' and economists' concerns that artificial intelligence will upend established industries are deepening, as Goldman Sachs warned in February that accelerating AI adoption could push U.S. unemployment higher this year, with job losses already emerging in sectors most exposed to automation.
Goldman economists estimated that the technology was responsible for 5,000 to 10,000 monthly net job losses last year in the most exposed U.S. industries, and accounted for 7% of total planned layoffs in January.
Below is a table of AI-linked global layoffs announced since October from biggest to smallest. Entries with no specified number are placed at the bottom.
COMPANY | MONTH ANNOUNCED | JOB CUTS | NOTES |
Amazon AMZN.O | January | 16,000 | Corporate job cuts; AI‑ and efficiency‑driven overhaul. |
HP Inc HPQ.N | November | 4,000-6,000 | Global cuts by end-2028; AI and operational streamlining. |
Mizuho 8411.T | February | Up to 5,000 | Cuts over 10 years; long-term AI‑driven streamlining plan. |
Dow DOW.N | January | 4,500 | 13% of workforce; automation and AI streamlining. |
Block XYZ.N | February | >4,000 | Nearly half its workforce; AI‑focused restructuring. |
SEB SEBF.PA | February | Up to 2,100 | Cuts by end-2027; restructuring to leverage AI. |
Wisetech WTC.AX | February | 2,000 | One-third of global workforce; AI integration. |
Allianz ALVG.DE | November | Up to 1,800 | Travel insurance division; AI replacing manual work. |
Proximus PROX.BR | February | 1,200 | Cuts by 2030; AI efficiency measures. |
Meta META.O, Reality Labs | January | >1,000 | Pivot from Metaverse to AI devices. |
Autodesk ADSK.O | January | ~1,000 | 7% of workforce; shift towards cloud and AI. |
Nike NKE.N | January | 775 | Profit push and automation. |
Telstra TLS.AX | February | 650 | AI‑driven restructuring with Infosys INFY.NS. |
Meta, Superintelligence Labs | October | ~600 | Downsizing in AI division. |
Pinterest PINS.N | January | Up to 15% of workforce | Redirecting resources toward AI strategy. |
Agora AGOP.WA | December | Up to 166 | Nearly 7% of workforce; digital restructuring. |
MercadoLibre | January | 119 | AI‑expansion move. |
British American Tobacco BATS.L | February | Not specified | AI‑driven productivity programme. |
