workforce cuts
Coverage of workforce cuts in the Nexus archive.
- WATCH: Saks exits bankruptcy with $500M financing and luxury-focused pivot
Saks Global has exited bankruptcy with $500M in financing and is restructuring through store closures, workforce reductions, and a strategic shift toward luxury retail and service. ABC News' Michelle Franzen and retail analyst Hitha Herzog analyzed the company's transformation.
- Google DeepMind economist sees no AI jobs bloodbath yet, but warns of a layoff cascade
A Google DeepMind economist, Alex Imas, stated there is no evidence of widespread AI-driven job losses but warned of a potential 'cascade effect' of layoffs driven by corporate panic. He emphasized that current data does not show a 'white-collar bloodbath,' though AI could automate tasks to boost productivity. Google DeepMind reiterated that the scenario discussed was hypothetical.
- CFTC turns to AI for crypto registration applications in an effort to offset workforce cuts: report
The CFTC is using artificial intelligence to review crypto-related registration applications to address workforce cuts, as reported by CoinDesk.