A growing wave of AI-linked layoffs has yet to translate into widespread job destruction across the U.S. economy, according to Bank of America.
Companies including Amazon.com (NASDAQ:AMZN), Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT) and Block (NYSE:XYZ) have cited AI-driven efficiencies, restructuring and the need to redirect resources toward AI as they cut thousands of jobs. But BofA’s latest analysis of the broader labor market finds little evidence so far that AI is causing a so-called “job apocalypse.”
