Tens of thousands of layoffs are being blamed on AI. Experts say there may be more to the story.

Some of the largest companies in America have begun capping or reducing their head counts, blaming the promise of productivity with artificial intelligence for their decisions.

Yet, so far, there is uneven evidence that the promised cost-savings from AI are actually worth what companies are putting into it.

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This leaves some experts questioning whether AI could be serving as a fig leaf for companies that are laying off employees for old-fashioned reasons, such as financial underperformance or global economic uncertainty.

“It’s much easier for a company to say, ‘We are laying workers off because we’re realizing AI-related efficiencies’ than to say ‘We’re laying people off because we’re not that profitable or bloated,