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AI Workforce Shake-Up: Nearly Half Of Companies Plan Job Cuts Within Years AI Workforce Shake-Up: Nearly Half Of Companies Plan Job Cuts Within Years
AI Workforce Shake-Up: Nearly Half Of Companies Plan Job Cuts Within Years Nearly half of companies worldwide are planning to cut jobs within the next few years as artificial intelligence (AI) reshapes industries and automates millions of positions, according to a new global report. The World Economic Forum’s "Future of Jobs Report 2025" outlines the seismic shifts AI will bring to the global workforce, revealing both challenges and opportunities: Job Displacement: The report says 41 percent of companies intent to downsize their workforce globally between 2025 and 2030, particularly in industries reliant on routine and manual tasks such as manufacturing, customer …

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by Joe Lombardi
Business
Company In Fairfield County To Close, 71 Employees To Lose Jobs Company In Fairfield County To Close, 71 Employees To Lose Jobs
Company In Fairfield County To Close, 71 Employees To Lose Jobs A company is closing its Fairfield County plant causing 71 employees to lose their jobs. Cascades Containerboard Packaging in Newtown said in a letter to the First Selectman Jeffery Capeci, its intent to permanently close its manufacturing facility located at 1 Edmond Road, between April 12 and April 26. "We have advised the employees that the layoff will be progressive between the above two dates," the company said. "We have also advised that this action is expected to be permanent." The company said employees will not be offered positions in other plants as the m…

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by Kathy Reakes
Business
Connecticut Nets 26,000 New Jobs In July, But ... Connecticut Nets 26,000 New Jobs In July, But ...
Connecticut Nets 26,000 New Jobs In July, But ... The number of jobs in Connecticut shot up dramatically over July - with the addition of 26,500 net new positions. That’s the good news. The bad news is that there are 146,300 fewer jobs in Connecticut now than there were compared to a year ago. That’s an 8.7 percent decrease year-over-year, according to the most recent information available from the Connecticut Department of Labor. Seasonally adjusted, there are 1.5 million non-agricultural jobs in Connecticut. Connecticut saw another large job gain in July," said Andy Condon, Director of the Office of Research at the Connecticut Departm…

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by Kristin Palpini