Companies are blaming AI for job cuts. Critics say it’s a 'good excuse'
www.cnbc.com
Workers are spooked as firms declare AI-driven layoffs, but some critics say the current reductions may be a "market clearance" due to overhiring.

Companies across the U.S. and Europe have been cutting staff, citing the impact of artificial intelligence.

There may be more to the layoffs than meets the eye as firms are “scapegoating” the technology to take the fall for challenging business moves such as layoffs, according to one professor.

Some companies that flourished during the pandemic “significantly overhired” and the recent layoffs might just be a “market clearance,” the professor said.