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Wix lays off 1,000 workers as AI capabilities and currency pressures force major restructuring

Website building company Wix is cutting 1,000 jobs—20% of its workforce—in its largest layoff ever. CEO Avishai Abrahami cited two main drivers: the strengthening Israeli shekel against the US dollar and the fast evolution of AI capabilities that's reshaping how software companies operate. The move comes as Wix's stock has plummeted more than 50% in 2026 following disappointing earnings.

Business4 sources

Wix lays off 1,000 workers as AI capabilities and currency pressures force major restructuring

Business4 sources

OpenAI Foundation pledges $250 million to help workers navigate AI economic disruption

The OpenAI Foundation announced a $250 million commitment to help workers and economies prepare for AI-driven economic upheaval. The initiative will fund research into AI's impact on the job market, support displaced workers, and explore new wealth distribution models. This marks the foundation's first major funding commitment since receiving a 26% stake valued at $130 billion in OpenAI's restructuring.

Policy4 sources

OpenAI Foundation pledges $250 million to help workers navigate AI economic disruption

Policy4 sources

Jensen Huang Slams Executives Using AI as a Lazy Excuse for Layoffs

Nvidia CEO Jensen Huang criticized executives for blaming AI layoffs on automation, calling it a lazy excuse to sound smart. With AI driving 49,135 job cuts this year, Huang argues the real culprits are soaring costs, mismanagement, and over-hiring during the pandemic—not AI productivity gains that only recently emerged.

Business3 sources

Jensen Huang Slams Executives Using AI as a Lazy Excuse for Layoffs

Business3 sources

Cloudflare cuts 1,100 jobs despite growth as CEO Matthew Prince details AI replacement strategy

Cloudflare laid off over 1,100 employees—nearly 20% of its workforce—despite posting record revenue growth. CEO Matthew Prince explained the cuts aren't about struggling business but about AI job replacement, targeting middle management and 'measurer' roles while protecting builders and sellers. The internet infrastructure and cybersecurity company expects to incur up to $150 million in severance costs.

Business2 sources

Cloudflare cuts 1,100 jobs despite growth as CEO Matthew Prince details AI replacement strategy

Business2 sources

Sam Altman says AI jobs apocalypse unlikely, admits he was wrong about employment impact

OpenAI CEO Sam Altman has walked back his earlier predictions about widespread AI job losses, saying he's 'delighted to be wrong' about the impact on white-collar employment. Speaking at a Sydney conference, Altman acknowledged that the jobs apocalypse he once warned about hasn't materialized, even as companies like Meta and Standard Chartered announce AI-related layoffs. The shift comes as data shows no significant employment disruption yet.

Business14 sources

Sam Altman says AI jobs apocalypse unlikely, admits he was wrong about employment impact

Business14 sources

99% of Executives Expect AI Layoffs Within Two Years as Worker Anxiety Surges

A Mercer survey of 825 C-suite leaders reveals 99% expect AI to trigger layoffs in the next two years, with 98% planning organizational design changes. Employee well-being has collapsed from 66% in 2024 to 44% in 2026 as AI-driven job displacement fears mount across industries.

Business3 sources

99% of Executives Expect AI Layoffs Within Two Years as Worker Anxiety Surges

Business3 sources

NYC Comptroller warns AI could eliminate 110,000 jobs as city 'sleepwalks' into technological shift

New York City Comptroller Mark Levine released a report warning that artificial intelligence could cost the city up to 110,000 private sector jobs by 2027 in a worst-case scenario. The official criticized city leaders for doing almost nothing to prepare for this radical transformation, urging immediate fiscal preparation including expanding the rainy day fund and protecting infrastructure against AI-powered threats.

Policy2 sources

NYC Comptroller warns AI could eliminate 110,000 jobs as city 'sleepwalks' into technological shift

Policy2 sources

Walmart's AI-native push delivers 26% e-commerce growth as Sparky users double

Walmart reported a 26% surge in global e-commerce growth, driven by its AI shopping assistant Sparky, which saw weekly active users jump over 100% in one quarter. CEO John Furner highlighted the company's shift to an AI-native approach, with improved fulfillment speeds reaching 36% of deliveries in under three hours. However, the retail giant cut 1,000 corporate employees to streamline its AI and technology operations.

Business2 sources

Walmart's AI-native push delivers 26% e-commerce growth as Sparky users double

Business2 sources

Gavin Newsom signs executive order to combat AI job displacement in California

California Governor Gavin Newsom issued the first-of-its-kind executive order mandating state agencies to explore labor policy overhauls addressing AI job displacement. The order examines subsidies for companies that retain workers, expanded workforce training for white-collar roles, and universal basic income alternatives as Meta cuts 8,000 jobs citing AI efficiency gains.

Policy7 sources

Gavin Newsom signs executive order to combat AI job displacement in California

Policy7 sources

WiseTech begins redundancies but removes AI references from emails to Chinese employees

WiseTech has started informing staff about job losses affecting 2,000 workers across 40 countries, citing AI advancements. However, employees discovered that emails sent to Chinese staff omitted all mentions of artificial intelligence, instead using the term 'global transformation.' The change appears linked to a recent Chinese court ruling that awarded compensation to a worker replaced by AI.

Business2 sources

WiseTech begins redundancies but removes AI references from emails to Chinese employees

Business2 sources

Jamie Dimon signals JPMorgan will hire more AI specialists and fewer traditional bankers

JPMorgan Chase CEO Jamie Dimon announced the bank will prioritize hiring AI specialists over traditional bankers as automation reshapes the financial industry. Speaking at the bank's China Summit in Shanghai, Dimon said the shift will happen through natural attrition rather than mass layoffs, with the bank's 10% yearly turnover rate providing flexibility to retrain or redeploy workers.

Business6 sources

Jamie Dimon signals JPMorgan will hire more AI specialists and fewer traditional bankers

Business6 sources

Jeff Bezos dismisses AI job fears, predicts labor shortage as tech reshapes work

Amazon founder Jeff Bezos rejects widespread concerns about AI taking your job, arguing the technology will instead elevate workers and create a labor shortage. Speaking on CNBC, he compared AI adoption to trading a shovel for a bulldozer, while critics like Geoffrey Hinton warn of mass white-collar job displacement.

Business5 sources

Jeff Bezos dismisses AI job fears, predicts labor shortage as tech reshapes work

Business5 sources

Intuit cuts 3,000 jobs while CEO insists workforce reduction had nothing to do with AI

Financial software company Intuit is laying off 17% of its workforce—roughly 3,000 employees—as it seeks to streamline operations and invest in AI capabilities. But CEO Sasan Goodarzi firmly denies the cuts are driven by automation, instead blaming organizational complexity and excess management layers. The move comes as Intuit's stock has fallen 41% this year amid concerns traditional software firms can't compete in the AI era.

Business16 sources

Intuit cuts 3,000 jobs while CEO insists workforce reduction had nothing to do with AI

Business16 sources

Singapore pushes financial firms to use AI for job creation, not just cost-cutting

Singapore's Deputy Prime Minister Gan Kim Yong is urging banks and financial institutions to deploy AI to create better jobs and upskill workers for higher-value roles, rather than simply cutting costs. His remarks follow Standard Chartered's announcement to cut over 7,000 jobs as it accelerates AI adoption. A new DBS report ranks Singapore third among 15 AI financial hubs globally.

Policy3 sources

Singapore pushes financial firms to use AI for job creation, not just cost-cutting

Policy3 sources

ClickUp slashes 22% of workforce while promising million-dollar salaries for AI-skilled survivors

Collaboration software startup ClickUp laid off 22% of its employees in a bold bet on AI agents, with CEO Zeb Evans promising seven-figure salaries for workers who create outsized impact using AI. The move reflects a growing trend: nearly 50,000 AI-related job cuts announced in 2026. But experts warn the real impact may be quieter—reduced hiring of entry-level workers as companies evaluate how AI reshapes their staffing needs.

Business8 sources

ClickUp slashes 22% of workforce while promising million-dollar salaries for AI-skilled survivors

Business8 sources

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