IBM CEO Arvind Krishna says not due to AI, many companies are laying off but because they …

IBM CEO Arvind Krishna has refuted the narrative that the current wave of mass layoffs across the tech industry is primarily due to the artificial intelligence (AI) technology, arguing that the job cuts are largely a “natural correction” following over-hiring during the pandemic years. Krishna, however, acknowledged that AI will eventually lead to some job displacement, but suggested that many companies are currently laying off staff because they overhired between 2020 and 2023.

In an interview with The Verge, Krishna used strong terms to describe the rapid staffing increases across the industry during the lockdown era.