AI Layoffs Hit 50,000 in 2024—But Economics Favor Humans Still
Source: Scott Galloway & Ed Elson
Companies are using AI as cover for cost-cutting that doesn't pay off. When you account for retraining, integration, liability, and the human oversight AI still requires—especially in high-stakes functions—replacing a $70k employee with a $50k AI tool often nets zero savings and introduces new operational risks. The shift is in narrative: corporate leadership claims innovation while workers absorb immediate pain, even though the financials rarely support the decision.