Job Cuts

OpenAI CEO Sam Altman has softened his stance on AI-driven job losses, arguing that companies adopting AI most aggressively are often hiring more workers. While acknowledging public anxiety over automation, he said human interaction remains central to business and society.

As job insecurity rises globally, building an emergency fund is essential for financial stability amid layoffs, inflation and AI-driven restructuring, ensuring protection through disciplined saving strategies.

Amid AI job cuts, HSBC's CEO Georges Elhedery encouraged staff to adapt and not resist technological changes. The bank may cut 20,000 roles, focusing on non-client-facing positions, while AI advancements are reshaping the workforce across the banking sector.

Cisco will cut nearly 4,000 jobs as it shifts investments toward AI and related growth areas. The company raised its annual revenue forecast after strong demand from hyperscalers helped AI infrastructure orders climb to $5.3 billion so far this fiscal year.

DK Shivakumar, Deputy Chief Minister of Karnataka, spoke at a summit about possible job cuts due to AI in Bengaluru, which has over 22.6 million IT professionals. Besides the Silicon Valley of India, other cities are also expected to be impacted, he said.

Axis Bank reduced its headcount by 3,100 employees in Q4 FY26 even as it expanded its physical presence. The private lender opened 166 new branches during the quarter and 400 branches across the full financial year.

Meta employees are grappling with anxiety as layoffs approach, sharing dark humour online. While some feel relieved by the confirmation, others are stressed about job security and performance expectations