Is AI beginning to replace human jobs? 7 major layoff announcements raise concerns

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Procter & Gamble, hand sanitiser, face mask, COVID, coronavirus

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Procter & Gamble (P&G) announced on June 5 that it plans to cut 7,000 jobs over the next two years as part of its efforts to build a more agile organisation. While it is not yet clear which regions or divisions will be impacted, the company expects to incur over $1 billion in pre-tax restructuring costs across FY25 and FY26. These will cover severance, transition, and system changes.

Citi helps COVID-struck Indians in kind, pumps in essentials worth Rs 75 cr

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Citigroup, also on June 5, said it plans to lay off around 3,500 technology roles in China as part of its cost-cutting strategy. In January last year, the US…



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Is AI beginning to replace human jobs? 7 major layoff announcements raise concerns


Procter & Gamble, hand sanitiser, face mask, COVID, coronavirus

Image count1 / 7

Procter & Gamble (P&G) announced on June 5 that it plans to cut 7,000 jobs over the next two years as part of its efforts to build a more agile organisation. While it is not yet clear which regions or divisions will be impacted, the company expects to incur over $1 billion in pre-tax restructuring costs across FY25 and FY26. These will cover severance, transition, and system changes.

Citi helps COVID-struck Indians in kind, pumps in essentials worth Rs 75 cr

Image count2 / 7

Citigroup, also on June 5, said it plans to lay off around 3,500 technology roles in China as part of its cost-cutting strategy. In January last year, the US…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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