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

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.

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…