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Global firms ramp up job-cuts amid AI push and softening demand
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Global employers announced tens of thousands of job-cuts tied to an AI push and fading demand, raising concerns for labour markets and Fed policy.
Major global companies announced large layoffs today, signalling a broader shift in labour markets: Amazon plans to cut up to 14,000 roles (with potential for more), while Nestlé and others slashed 16,000+ jobs. Firms cite weakening consumer demand and accelerating automation via AI as key drivers. Economists warn this could erode the “no-hire, no-fire” pattern seen earlier this year and dampen household income and spending. The trend raises questions for Federal Reserve policy as labour-market strength becomes less robust.