People might be aware that some of the esteemed and largest organisations are laying off their employees left right and centre, are we heading into recession? Because I have seen my colleagues getting laid off and it's been months they are unable to find a job. Either we are heading towards recession or globally companies overhired the employees post COVID hence clearing the additional manpower. I am bit convinced that it's like recession sort of thing and not sure to over hiring. Share your thoughts on this crisis which has left a good amount of people without any work.
From my perspective of reasoning see it as result of many large companies adopting the use of AI to work in certain area of man power, allot of machine are already on ground that can handle some man power which will take a month with 20-30 persons in a day, in situation like this companies will lay off some of their man power.
Recession can't just happened with just few numbers of worker lay off , but if eventually all company and firms adopt the use of AI where it limit the number of worker as few will be required to operate the AI it can be seen as recession in workers perspective.