AI is the reason they can fire people. Bloated government is why they feel they have to. The firings will be across the board from fast food restaurants all the way to white collar jobs in fortune 500 companies.
Over the last 12 months we have seen small scale layoffs, 5% or less, as they are training the AI. But once it is trained you will see buyouts like what the Federal government is doing, you will see hiring freeze so no new hires, and then you will see layoffs. But this will be a negative feedback loop. As people lose their jobs and sell their homes and drastically cut back on their spending the demand for goods will shrink and the only way that the large multinational corporations can continue to stay competitive will be to cut back on costs by laying off more people and replacing them with AI, robots and drones.
The situation becomes dire about six months after the hiring freeze when the layoffs begin to really take shape. The highest the unemployment was during the great depression was around 25%. By all accounts AI, robots and drones are now capable of doing 25% of the jobs at a much lower cost to the company than hiring people.
Over the last 12 months we have seen small scale layoffs, 5% or less, as they are training the AI. But once it is trained you will see buyouts like what the Federal government is doing, you will see hiring freeze so no new hires, and then you will see layoffs. But this will be a negative feedback loop. As people lose their jobs and sell their homes and drastically cut back on their spending the demand for goods will shrink and the only way that the large multinational corporations can continue to stay competitive will be to cut back on costs by laying off more people and replacing them with AI, robots and drones.
The situation becomes dire about six months after the hiring freeze when the layoffs begin to really take shape. The highest the unemployment was during the great depression was around 25%. By all accounts AI, robots and drones are now capable of doing 25% of the jobs at a much lower cost to the company than hiring people.