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I didn't think it would happen this soon..
But the white-collar AI bloodbath is here.
This month alone:
• Ken Griffin, Citadel CEO (May 5): "extraordinarily high-skilled jobs being automated by agentic AI," - said he went home "fairly depressed." Was an AI skeptic in January.
• Brian Armstrong, Coinbase CEO (May 5): cut 14% of staff (~700). "engineers use AI to ship in days what used to take a team weeks."
• PayPal (May 5): planning to cut ~4,760 jobs (20%). CFO cited AI + automation on the earnings call.
• Mark Zuckerberg (one week earlier): told 8,000 staff their layoffs were a "direct consequence" of the $145B AI infrastructure bill.
• Cloudflare (May 7): cut 1,100 jobs (20%) - first mass layoff in 16 yrs - despite revenue +34% YoY. Internal AI usage up "more than 600% in the last three months alone."
• BILL (May 7): up to 30% workforce cut.
• Upwork (May 7): ~25% workforce cut.
• Cisco (May 13): cut 4,000 jobs. Stock popped 15% on surging AI orders.
• LinkedIn (May 13): cut 875 staff (5%). The platform that tracks the job market is laying off its own.
First the farm. Then the factory. Now the office?