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Tech firms have cut close to 150,000 jobs in 2026 while citing AI, even as AI-driven IPOs mint vast new fortunes, sharpening questions about who benefits.
OpenAI said its non-profit foundation will commit an initial $250 million toward research, grants, and programs aimed at helping workers and economies adapt to disruption caused by AI.
OpenAI CEO Sam Altman said AI has not caused the large-scale white-collar job losses he once expected, adding that human interaction still plays a critical role in many professions.
Standard Chartered CEO Bill Winters apologized for remarks about AI replacing lower-value jobs after backlash from staff and regulators.
California Governor Gavin Newsom signed an executive order directing state agencies to study and mitigate AI-driven job losses through retraining programs, labor protections, and employment support measures.
Hong Kong and Singapore regulators have sought clarification from Standard Chartered after CEO Bill Winters said the bank plans to replace “lower-value human capital” with technology. The scrutiny follows the lender’s plan to cut more than 7,000 jobs over four years.
Standard Chartered plans to eliminate more than 7,000 jobs as the bank accelerates automation and AI adoption across operations.
Amazon is cutting about 14,000 corporate roles as part of a broader restructuring to streamline operations and accelerate investment in generative AI technologies.