#CNBC Fmr. NEC director: Companies have gone from hoarding workers to let’s see how efficiently we can run

Fmr. NEC director: Companies have gone from hoarding workers to let’s see how efficiently we can run
IBM vice chair and former NEC director Gary Cohn said Wednesday that recent layoffs are “the natural cycle” as companies transition from clinging to workers to seeing how efficient they can operate.

Cohn said while AI is part of what’s behind recent layoffs, they are also a reflection of the labor market, as it is easier than previous years to bring in additional work if needed.

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