Cuts at Goldman Sachs, BNP Paribas, SMBC

Goldman: low performers, people doing things that AI might do

BNP Paribas: electronic equities salespeople, maybe more

SMBC: 2% of people in the US.

Does anyone know more? :ear:

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Many are talking about AI-related cuts, very few are seeing AI-related cuts.

At what point do we admit that we’re overthinking it all?

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I am seeing 10+% cuts at many organizations due to GenAI. Some have 20+% cuts.

And they will have to re-hire at least half back in 2026 when they realise regulation won’t let them do what they want genAI to do

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Regulation and simple logic.

“You’re absolutely right - I did miscalculate the size of the Labubu derivatives market by several magnitudes. Should we build a real and accurate…”

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My sources have stated there are employees retiring early for reasonable request and added pay outs. AI related job cuts impact hasn’t been felt yet the enhancement to digital emerging technology innovations is being worked on for future growth opportunities, workforce reductions may come mid-year in 2026 once measures, goals, and strategy has been reviewed projections will be announced.

Maybe it really is AI.

AI sucking up all the money. Not necessarily AI increasing productivity. Just a theory.

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My sources inform me that the ai journey is just beginning and that data centres will birth an immense new reality of people who’s faculties have been outsourced to netflix. Probably bad for the credit cycle

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Everyone is banking on AI yet 95% of US companies who have invested billions collectively have seen no return whatsoever yet according to recent MIT study & as I found when exploring early ideas in AI automation, AI works best for very specific use cases & research & development is often best left to specialist companies better placed to bring products to market rather than general internal investment over people, so tell that to HR / CEO, still, talk about a bubble lol :woman_shrugging:

Posted with minimal context.

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If you are in a function with no relationships, the. you are poised to be disrupted.