Another Layoffs News Again
Since 2020, companies have been laying off their workforce rapidly. The companies are making tons of money during the COVID, but somehow, they are laying off 10% – 50% of their workforce.
With Paytm’s recent layoff of their 1000 employees, we get a glimpse of why they are firing so many of their employees:
As AI technology innovates, there is less need for the human workforce. Many people think programmers are one of the jobs AI won’t replace shortly. However, it looks like the programmers being laid off has been going on for a few years when we ask, “Will AI replace programmers?”.
In the article, Intel initiates fifth round of layoffs, further job losses in 2024 expected; Intel is laying off 235 employees this time. This will be the fifth round of the Intel layoffs. By now, we should know the layoffs will continue on all levels of jobs. Tech companies are laying off their employees rapidly and continuously. They are laying off 10% to 20% of their workforce each time. It means 200 – 10000 of their employees are being terminated. This shows tech jobs are no longer secure, and ample companies cannot be trusted.
Not only are tech companies laying off people, but the most prominent shoe company, Nike, also has significant layoffs.
They are cutting two billion dollars worth of their workforce because of some forecasts, even though they have been profitable from the workforce in the past. Nike is putting a lot of bets into the forecast. If Nike’s average salary is $70,000, they will fire 28,572 people. It looks like the non-tech companies have more enormous layoffs than tech companies.
What Kind Of Jobs Will Get Layoffs Because Of AI?
Will AI Replace Programmers?
AI pair programming is already the mainstream. One person can be ten times as productive using AI pair programming. Since AI appeared, many tech companies have been laying off lower-level employees. As AI improves, the need for programmers becomes less and less. Currently, there are many zero-code platforms for people to make programs easily.
Will AI Replace Artists?
For art purposes, AI still can’t compete with humans. For business usage, many AI tools can replace artists. AI tools for banners, product images, photographs, and video editing exist. The price of AI tools for arts is way lower than hiring a human. The only thing that stops people from using AI is some people are not familiar with the AI tools for design.
Will AI Replace Lawyers?
The law does not allow AI to replace humans in the jurisdiction. Also, AI may not be accurate enough for law documentation. However, as time passes, it will learn and get better and usable in law.
How To Survive From AI Job Replacement?
Even though AI can do what humans can, it must be instructed and monitored. AI will need help to know what is right and how to do it better. Companies will need someone to understand what good work is and how to instruct AI to do it for them. Companies will have higher standards to find someone who can prove their capability. They will look for a domain expert. You will have to know how to demonstrate your domain expertise.
As the AI age comes closer and closer, we will have to adapt to survive. Working will be different than before. We must continue to improve our work skills and become the domain experts to have a stable career.