# labour market
Latest news and articles about labour market
Total: 3 articles found
When Efficiency Becomes a Rationale: Block’s AI-Driven Layoffs and the New Corporate Playbook
Block’s sudden axing of nearly 40% of its workforce is a clear example of companies embracing AI to restructure operations even when financially healthy. The decision crystallises a wider tension: investors reward efficiency gains, but rapid automation threatens consumption, customer trust and jobs, prompting urgent questions about policy and corporate responsibility.
IMF Chief: AI a 'Tsunami' for Jobs — Young and Entry-Level Workers Face the Brunt
IMF chief Kristalina Georgieva warned at Davos that AI will act like a ‘tsunami’ for labour markets, affecting an estimated 60% of jobs in advanced economies and 40% globally. She said young people face the greatest disruption because many entry-level roles are being eliminated, and stressed that governance has not kept pace with technological change.
Huang Says AI Boom Will Lift Trades' Pay — but White‑Collar Risk Lingers
At Davos, Nvidia CEO Jensen Huang argued that the AI era will generate vast data‑centre construction and maintenance demand, lifting wages for skilled trades into six‑figure territory. Industry leaders agree the physical build‑out will create local jobs, but warnings from AI executives underscore a simultaneous risk of large‑scale displacement among entry‑level white‑collar roles.