Tech giants are firing employees to hire AI experts instead
Some of the world's biggest tech companies—TCS, Microsoft, Intel, Meta, and Panasonic—are letting go of thousands of employees this year.
The main reason? They're doubling down on artificial intelligence (AI) and shifting their focus to new priorities.
TCS, Microsoft, Intel, and Meta's layoffs
TCS will cut about 12,000 jobs because many roles don't match the skills needed now.
Microsoft has let go of a significant number of employees, all while pouring $80 billion into AI infrastructure.
Intel is slashing around 21,000 jobs—about a fifth of its workforce—and scaling back factory plans.
Meta has trimmed its Reality Labs teams after earlier layoffs.
Panasonic is also cutting 10,000 jobs
Panasonic is also cutting 10,000 jobs as it moves away from slower business areas to chase AI-powered growth.
Across the industry, companies are reshaping teams to keep up with rapid changes and make room for new tech skills.
Microsoft's $80B investment in AI this year
Microsoft's $80 billion investment in AI this year is reportedly more than the annual GDP of some small countries.