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Microsoft, eBay, PayPal among tech giants 34,000 job cuts due to AI

Tech companies have cut around 34,000 jobs in a matter of weeks as the focus turns to generative AI, according to Financial Tmes.

Brent Hill, an analyst at the renowned financial institution Jefferies, opined companies have assessed their workforces with the conclusion that “we’ve got a bunch of dead wood, and if we had a leaner organization, we can do more.” Enterprise software company SAP confirmed a “company-wide transformation” in January, including the loss of around 8,000 jobs as it turns further to AI while reskilling staff as much as possible. Autumn Mitchell, a QA tester at Microsoft subsidiary ZeniMax, commented on the current uncertainty, “Anybody working in tech or games right now is worried about lay-offs to some degree, either for themselves or someone they know.”

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