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Salesforce Inc (NYSE:CRM) CEO Marc Benioff said last week that warnings about AI-driven mass layoffs were overblown. The numbers say otherwise.
Block Inc (NYSE:XYZ) cut 4,000 jobs in February, roughly 40% of staff, with CEO Jack Dorsey explicitly blaming AI.
Atlassian Corporation (NASDAQ:TEAM) followed with 1,600 layoffs last week to “self-fund” its AI pivot.
Meta Platforms Inc (NASDAQ:META) is now reportedly planning to cut over 15,000 workers, or 20% of its workforce, to offset AI infrastructure spending that could hit $135 billion this year. A Meta spokesperson called the report “speculative.”
Wall Street rewarded all three. Meta rose 3% Monday. Atlassian popped 2% afterhours. Block surged …
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