The explosion in AI models, software, and agents has raised questions about the impact of the technology on the broader job market as companies find new efficiencies from this new technology. But according to EY's latest US AI Pulse Survey, just 17% of 500 business executives at US companies that saw productivity gains via AI turned around and cut jobs. "There's a narrative that we hear quite frequently about companies looking to take that benefit that they're seeing and put it into the financial statem ...

This story was originally published on Manufacturing Dive. To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter. The manufacturing industry saw 329,000 job separations in October, according to the U.S. Bureau of Labor Statistics’ openings and labor turnover survey results released on Tuesday. That’s about a 0.6% increase compared to September’s separations, which saw about 327,000. Separations include quits, layoffs and discharges, according to the BLS. Despite the ...

Job Cuts - Samancor Chrome 考虑在南非裁减多达 2,496 个工作岗位 [1] - 裁员原因是能源成本高企，公司考虑关闭或缩减业务 [1] Operational Changes - Samancor Chrome 正在考虑关闭或缩减业务规模 [1]

Core Insights - HP plans to cut between 4,000 and 6,000 jobs globally by the end of October 2028, as it increasingly adopts AI to enhance product development, which has led to a lower-than-expected profit outlook for the coming year [1][2] - The job cuts are expected to result in annualized savings of $1 billion by 2028, although the restructuring will incur costs of approximately $650 million [2] Company Strategy - The CEO of HP, Enrique Lores, emphasized the significant opportunity to integrate AI into the company to accelerate product innovation, improve customer satisfaction, and enhance productivity [2] - Affected teams will include those involved in product development, internal operations, and customer support [2] Industry Context - The announcement of job cuts at HP aligns with a broader trend where companies are citing AI as a reason for workforce reductions, with other firms like Clifford Chance and PwC also adjusting their staffing in response to technological advancements [4][5] - A report from the National Foundation for Educational Research indicated that up to 3 million low-skilled jobs in the UK could be at risk due to automation and AI by 2035, particularly in trades, machine operations, and administrative roles [3] Financial Performance - HP reported better-than-expected revenues of $14.6 billion for its fourth quarter, with demand for AI-enabled PCs making up over 30% of its shipments during that period [8] - However, rising memory costs, which currently account for 15% to 18% of the cost of a typical PC, could impact profits for HP and its competitors [7][8]

ABN Amro plans to cut 5,200 full-time roles by 2028 https://t.co/1lzE3ZTGyh ...

Amazon informed staffers via a text-email combo. Target asked workers to stay home. Does any of that make job cuts less painful?https://t.co/Ar5pdlgZA3 ...

Layoff Strategies - Amazon 使用短信和邮件通知员工裁员消息 [1] - Target 要求员工居家办公 [1] Employee Impact - 裁员是否减轻痛苦，行业对此表示疑问 [1]

Layoff Strategies - Amazon 通过短信和电子邮件通知员工裁员消息 [1] - Target 要求员工居家办公，可能与裁员有关 [1] Impact of Communication - 行业关注裁员通知方式是否能减轻员工痛苦 [1]

Public Perception of AI in America - AI is becoming unpopular in America, particularly due to concerns about job displacement and rising electric bills [1] - Republican politicians are reportedly hesitant to publicly support AI due to declining popularity ratings [1] - The industry believes pushing back against AI is a losing proposition for America [2] Geopolitical Implications - China is not expected to slow down its AI development [3] - The industry suggests that slowing down AI development in America would be an "own goal" with negative consequences for national security and economic growth [3]

Macro Economic Overview - The government shutdown has led to a significant impact on the economy, with fears of a sobering surprise once jobs data resumes [3][6] - Challenger Grey and Christmas reported over 150,000 job cuts in October, marking an increase of more than 180% from September and about 175% from October 2024 [3][4] - Year-to-date job cuts have reached 1.1 million, already 44% higher than the total for all of 2024 [4] Job Market Trends - The job cuts are attributed to a correction from the pandemic hiring boom, structural changes due to AI adoption, and cyclical softening in consumer and corporate spending [5] - The ongoing government shutdown is exacerbating economic concerns, affecting consumer spending, particularly in programs like SNAP [7][8] AI Sector Earnings and Market Sentiment - Recent earnings reports from AI companies show signs of investor sentiment weakening, with Palantir's stock dropping 8% despite beating expectations [11][12] - Concerns about valuation are prevalent, as stocks like AMD and Nvidia also experienced declines after reporting better-than-expected earnings [13][15] - Investors are increasingly cautious, seeking strong execution from AI companies to justify high valuations [14][18] Valuation Concerns in Tech Stocks - The market is witnessing a "show me" situation where investors demand tangible results from AI spending amid a murky economic outlook [20] - Companies like Uber and DoorDash have faced stock price declines due to cautious guidance and significant spending plans for the future [19][20] Bitcoin's Volatility and Speculative Investments - Bitcoin has dropped below $100,000 for the first time since May, down about 20% from its high, reflecting a shift in speculative sentiment [21][22] - Bitcoin's performance is seen as a proxy for speculative investment trends, often the first asset to be trimmed when investors seek safety [22] Upcoming Earnings and Economic Indicators - Upcoming earnings to watch include CoreWeave, Disney, Alibaba, and Tyson Foods, which may provide insights into consumer behavior and economic conditions [23][24][25]