- CNBC compiled a list of 23 S&P 500 firms across multiple sectors and industries to see how their stocks fared following layoffs linked to AI. As of May 15, 13 of those companies, or 56%, have traded in the red from the time of their layoff announcements.
- Of the companies whose shares fell after their AI-linked layoffs, the average decline was about 25%.
- Some of the companies that have seen their shares sink after slashing head count to embrace AI include Nike, Salesforce and Fiverr.
Artificial intelligence has ushered in a bull run in stocks that has taken the broader market to new heights. Companies that have tied workforce reductions to the new technology, however, haven't always fared so well.
CNBC compiled a list of 23 S&P 500 firms across multiple sectors and industries to see how their stocks fared following layoffs linked to AI. Specifically, we looked for companies that explicitly cited artificial intelligence or hinted at increased use of the technology when announcing the workforce reductions.
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