Tech Giants Spend Billions on Layoffs as AI Reshapes Workforce Priorities

Big Tech is spending billions to not employ people

Amazon CEO Andy Jassy.Noah Berger/Getty Images for Amazon Web ServicesWe looked at how much tech companies spent on departing employees in the past year.Amazon spent the most, disclosing $2.7 billion in estimated severance costs.While Amazon is the biggest spender, both Oracle and Intel spent nearly $2 billion each.Some of the world's richest tech companies are spending huge sums to lay off employees.Business Insider reviewed the latest annual r…

Tech Giants Spend Billions on Layoffs as AI Reshapes Workforce Priorities

The artificial intelligence boom is not only driving record investment in data centers and computing infrastructure. It is also proving extraordinarily expensive for employees leaving some of the world’s largest technology companies. New financial disclosures show that several major U.S. technology companies collectively spent billions of dollars on severance packages and restructuring costs as they […] The post Tech Giants Spend Billions on Lay…