Several big tech firms are reporting AI-driven growth while announcing layoffs. Oracle’s booming AI demand sent its stock to a record high after laying off hundreds of workers. Microsoft, Amazon, and Alphabet have also cut jobs despite revenue growth. The tech sector faces heavy layoffs, with many companies trimming staff due to AI expenditures. Amazon CEO predicts a smaller workforce due to AI advancements. Economists estimate AI could replace 6-7% of U.S. jobs, but remain optimistic about its overall impact on the job market.

Read more at Yahoo Finance: Business Is Booming for Many Tech Giants. They’re Laying Workers Off Anyway.