Tech Layoffs Soar While AI Investments Surge, Stoking Fears of Widening Inequality
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The tech industry has announced thousands of layoffs in 2023 while investing billions into AI, raising concerns about AI's impact on jobs.
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Layoffs are occurring across major tech companies like Google and Amazon, as well as smaller startups, impacting a wide range of roles.
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Companies cite needing to correct overhiring during the pandemic and reallocate resources towards AI investments.
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Research suggests AI could impact hundreds of millions of jobs globally, disproportionately affecting women and minority groups.
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Lawmakers are pressuring the Labor Department to track impacts of tech layoffs, especially on vulnerable demographic groups.