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The AI layoff wave is becoming a powder keg
At the very moment that tens of thousands of workers are being shown the door, a small cohort of AI insiders is becoming wealthy on a scale that's hard to comprehend.
Something strange is happening in tech right now. Companies are posting record profits and revenue while laying off tens of thousands of people, citing AI as the official explanation. So far this year, there have been an estimated 363 layoffs at tech companies this year, affecting nearly 150,000 people — a pace of about 974 people per day, 44% faster than last year — according to TrueUp, a tech job board and recruiting platform that also runs one of the most widely cited tech layoff trackers. The trend appears to be accelerating. Tech layoffs hit their highest single month in two years last month, with…
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