Last month 3,900 people lost their jobs because of AI: Challenger, Gray & Christmas monthly report
Chicago, IL (June 2, 2023) – Nearly 4,000 people in the U.S. tech industry lost their jobs in May because of artificial intelligence, marking the first time layoffs have been directly attributed to AI, according to a monthly report from Challenger, Gray & Christmas. The sector has faced its highest number of year-to-date layoffs in more than 20 years amid a wave of more than 80,000 job cuts last month, for reasons including market conditions, restructuring, and buyouts.
At the same time, AI is creating new jobs; for example, JPMorgan advertised more than 3,600 new A.I.-related positions in the first four months of this year, according to Bloomberg.
With new AI-related innovations regularly making waves – from ChatGPT to new product and service features from the likes of Google, Amazon, and Adobe – most Americans believe AI will affect their jobs at some point, though there is disagreement over how, and whether it will be for better or for worse, according to Fortune.
One thing is certain as the technology evolves: disruption lies ahead.
About Challenger, Gray & Christmas
We provide the highest quality outplacement in the industry. We support transitioning clients all over the world, at all levels, and in a broad array of industries. Using a dramatically different approach to outplacement, we serve as co-owners of the job search by using only full-time coaches, working one-on-one with our clients, proactively following up with each client, and letting the customer know the final outcome for each individual in the program. For more information, visit www.challengergray.com.
