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Economic Council Director downplays AI's impact on job losses amid tech layoffs
May 11, 2026
AI Summary
Kevin Hassett, Director of the White House National Economic Council, stated that artificial intelligence is not currently causing job losses, despite ongoing layoffs in the tech sector. Companies like Amazon, Meta, and Oracle have announced significant job cuts, with some citing AI as a factor in their operational changes.
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- Kevin Hassett, Director of the National Economic Council, claims that AI is not currently leading to job losses, based on available data.
- Hassett mentioned that a task force is studying the future implications of AI on the workforce.
- The tech industry is experiencing significant layoffs, with companies such as Amazon, Meta, and Oracle announcing job cuts.
- Block announced plans to lay off nearly 4,000 employees, reducing its workforce by almost half, citing a shift towards smaller teams and increased automation through AI.
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