Business
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Hyunsoo Rim

Job losses from AI are here now, and Ford’s CEO thinks “literally half” of white-collar jobs are at risk

What used to be cautious optimism in tech is now turning into blunt warnings from CEOs across industries: AI is coming for white-collar jobs, and the cuts could be deep, according to a new Wall Street Journal report.

At an event last week, Ford CEO Jim Farley said AI will replace “literally half” of all white-collar jobs in the US. Meanwhile, Marianne Lake, CEO of Consumer & Community Banking at JPMorgan, recently projected a 10% cut in operations headcount over the next five years due to AI tools.

Executives have historically downplayed job loss fears, emphasizing AI’s role in augmenting human work rather than replacing it. But now, many admit it could dramatically shrink workforces — with some companies consolidating roles or expecting employees to do more without increasing headcount.

  • Fiverr CEO Micha Kaufman recently shared a “wake-up call” in an X post: “It does not matter if you are a programmer, designer, product manager, data scientist, lawyer, customer support rep, salesperson, or a finance person — AI is coming for you.”

  • Shopify CEO Tobi Lütke has paused hiring unless managers prove AI cannot perform the job.

  • Amazon CEO Andy Jassy anticipates a smaller corporate workforce due to AI.

  • Anthropic CEO Dario Amodei has warned that AI could wipe out half of all entry-level white-collar jobs within the next five years.

  • ThredUp CEO James Reinhart predicts AI will “destroy more jobs than the average person thinks.”

  • Moderna merged its tech and HR teams in May, with CEO Stéphane Bancel saying earlier that the pharma giant can maximize its output “with a few thousand people” thanks to AI tools.

  • Klarna’s push into AI has seen it slash its workforce by ~40%.

Still, some tech leaders argue that while job displacement is real, fears may be exaggerated — and that AI-driven efficiency gains could also create demand for new skill sets.

Related reading: Big Tech isn’t hiring like it used to, unless you say the magic words

CEOs Start Saying the Quiet Part Out Loud: AI Will Wipe Out Jobs

CEOs Start Saying the Quiet Part Out Loud: AI Will Wipe Out Jobs

At an event last week, Ford CEO Jim Farley said AI will replace “literally half” of all white-collar jobs in the US. Meanwhile, Marianne Lake, CEO of Consumer & Community Banking at JPMorgan, recently projected a 10% cut in operations headcount over the next five years due to AI tools.

Executives have historically downplayed job loss fears, emphasizing AI’s role in augmenting human work rather than replacing it. But now, many admit it could dramatically shrink workforces — with some companies consolidating roles or expecting employees to do more without increasing headcount.

  • Fiverr CEO Micha Kaufman recently shared a “wake-up call” in an X post: “It does not matter if you are a programmer, designer, product manager, data scientist, lawyer, customer support rep, salesperson, or a finance person — AI is coming for you.”

  • Shopify CEO Tobi Lütke has paused hiring unless managers prove AI cannot perform the job.

  • Amazon CEO Andy Jassy anticipates a smaller corporate workforce due to AI.

  • Anthropic CEO Dario Amodei has warned that AI could wipe out half of all entry-level white-collar jobs within the next five years.

  • ThredUp CEO James Reinhart predicts AI will “destroy more jobs than the average person thinks.”

  • Moderna merged its tech and HR teams in May, with CEO Stéphane Bancel saying earlier that the pharma giant can maximize its output “with a few thousand people” thanks to AI tools.

  • Klarna’s push into AI has seen it slash its workforce by ~40%.

Still, some tech leaders argue that while job displacement is real, fears may be exaggerated — and that AI-driven efficiency gains could also create demand for new skill sets.

Related reading: Big Tech isn’t hiring like it used to, unless you say the magic words

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business
Max Knoblauch

Electronic Arts launches a platform to put more ads in its games

Video game publishing giant EA launched a new platform on Monday designed to make the process of selling immersive ad space in its popular games easier.

The company says the platform, called EA Advertising, allows brands to “integrate directly into gameplay through dynamic, real-time placements, from stadium signage to custom in-game content.”

More so than other studios, EA has incorporated advertising into its most popular titles. As Kotaku points out, the company’s ad efforts stretch as far back as 2006. Several of its sports franchises already feature partnerships with brands like Visa, Lowe’s, Red Bull, and PepsiCo.

In-game advertising hasn’t exactly been embraced by fans, but industry experts expect it to ramp up as companies seek more revenue to offset higher games budgets and surging memory costs. EA rival Take-Two has taken a different approach, with CEO Strauss Zelnick recently saying the company was “not at risk of doing brand partnerships” in the forthcoming “Grand Theft Auto VI,” and that ads in full-price games seems “unfair.”

The $55 billion deal to take EA private, led by Saudi Arabia’s Public Investment Fund, is set to close at the end of this month. Being the largest leveraged buyout in history, EA will likely look for more ways to boost revenue to cover interest payments.

Electronic Arts Makes Push for Ad Dollars Tied to Sports

Electronic Arts Makes Push for Ad Dollars Tied to Sports

More so than other studios, EA has incorporated advertising into its most popular titles. As Kotaku points out, the company’s ad efforts stretch as far back as 2006. Several of its sports franchises already feature partnerships with brands like Visa, Lowe’s, Red Bull, and PepsiCo.

In-game advertising hasn’t exactly been embraced by fans, but industry experts expect it to ramp up as companies seek more revenue to offset higher games budgets and surging memory costs. EA rival Take-Two has taken a different approach, with CEO Strauss Zelnick recently saying the company was “not at risk of doing brand partnerships” in the forthcoming “Grand Theft Auto VI,” and that ads in full-price games seems “unfair.”

The $55 billion deal to take EA private, led by Saudi Arabia’s Public Investment Fund, is set to close at the end of this month. Being the largest leveraged buyout in history, EA will likely look for more ways to boost revenue to cover interest payments.

business
Millie Giles

JM Smucker says it sold $1 billion worth of Uncrustables in FY2026

After years of booming sandwich sales, JM Smucker has finally earned a billion-dollar crust.

On Tuesday, the company reported results for fiscal year 2026, highlighting better-than-expected profits driven by higher prices for coffee and sweet baked goods. However, at another point on the earnings call, CEO Mark Smucker pointed to one particularly jammy figure: in line with previous forecasts, the company sold $1 billion worth of its (almost always) crustless sandwiches, Uncrustables, in the last year alone.

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business
Max Knoblauch

Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

$98B ⛽
Max Knoblauch

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”

Hollywood Exteriors And Landmarks - 2025

1 year into the Switch 2, we might’ve seen the top of the console market

The Switch 2 launched on this day in 2025. Amid a rough year for consoles, Nintendo has logged a good one.

Max Knoblauch6/5/26

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