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Tech CEOs Brace for AI-Driven Job Cuts Despite Public Reassurances

Companies are shrinking teams, mandating AI skills, wrestling with conflicting forecasts on whether automation will eliminate white-collar roles.

FILE: Marc Benioff, CEO of Salesforce, walks with other attendees as they leave a morning session at the Sun Valley Conference on July 12, 2023, in Sun Valley, Idaho. 
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Overview

  • Software investors report that behind closed doors, CEOs admit they anticipate 30–40% team cuts driven by AI, though they publicly insist they’re still hiring.
  • Anthropic CEO Dario Amodei warns AI could automate up to half of entry-level white-collar jobs within five years across sectors such as technology, finance, law and consulting.
  • Salesforce has reduced hiring, redeployed 500 support staff into data-plus-AI roles and slowed engineering recruitment even as CEO Marc Benioff calls broader job-loss fears “alarmist.”
  • Nvidia’s Jensen Huang cautions that workers won’t lose roles to AI itself but to colleagues who master AI tools, urging all employees to adopt the technology.
  • E-commerce and tech firms from Shopify to Duolingo are now requiring employees to develop and apply AI skills, with leadership coaching and formal training programs rolling out across industries.