Computer scientist and Nobel laureate Geoffrey Hinton doubled down on his warnings about how artificial intelligence will affect the labor market and the role of companies leading the charge. In an interview with Bloomberg TV’s Wall Street Week on Friday, he said the obvious way to make money off AI investments, aside from charging fees to…
A chart making the rounds on social media has sparked intense debate about the state of the American economy. Since November 2022, when ChatGPT launched, the S&P 500 has surged more than 70% while job openings have plummeted roughly 30%. The juxtaposition has earned the graphic a foreboding nickname: the “scariest chart in the world.”…
While Microsoft didn’t offer a specific forecast for its AI capital expenditures for the next quarter or coming year, the company’s chief financial officer, Amy Hood, said that the company’s total spend will “increase sequentially, and we now expect the fiscal year 2026 growth rate to be higher than fiscal year 2025.” Tech companies are…
And the layoffs keep coming. General Motors joins Amazon and Paramount this week, announcing on Wednesday it will be laying off 1,750 workers in Michigan and Ohio, in response to the downturn in U.S. electric vehicle (EV) market. The Detroit News first reported the news. Shares in the automotive maker (NYSE: GM) were down less than 1%…
Rivian is reportedly laying off around 4% of its workforce as the electric-vehicle startup looks to rein in costs amid a slowdown in the EV market. Sources tell the Wall Street Journal and Bloomberg that the company is cutting at least 600 jobs, mostly in the servicing and sales departments. The move comes just…
A new round of layoffs at the Education Department is depleting an agency that was hit hard in the Trump administration’s previous mass firings, threatening new disruption to the nation’s students and schools in areas from special education to civil rights enforcement to after-school programs. The Education Department had about 4,100 employees when Trump took…
U.S. President Donald Trump gestures, as he arrives at Joint Base Andrews, Maryland, U.S., Sept. 26, 2025. Elizabeth Frantz | Reuters President Donald Trump warned Sunday of widespread layoffs if the federal government shuts down this week, telling NBC News that “we are going to cut a lot of the people that … we’re able…
However, as more chatbots and automated assistants take over the duties of human roles, there’s a growing cohort of executives who see shorter workweeks on the horizon—and Zoom CEO Eric Yuan can even see staffers only clocking in a few days a week. “I feel like if A.I. can make all of our lives better,…
George Hongchoy Kwok-lung has announced his retirement as CEO of Hong Kong-based Link Asset Management, ending a 16-year tenure amid mounting controversy over his pay package and recent lay-offs. Hongchoy, 63, would ensure a smooth transition at Link as it embarked on a search for his successor, Asia’s largest real estate investment trust said early…
Considering how much dating apps are struggling, Bumble’s announcement via an 8-K filing on Wednesday of a 30% workforce reduction may not seem that shocking. But JPMorgan analysts wrote in a Wednesday note the magnitude of the layoffs (which amount to about 240 jobs) “comes as a surprise” because the company had already announced $15…