IBM CEO Arvind Krishna has clarified that the wave of layoffs across the global tech industry has little to do with artificial intelligence replacing jobs.

Instead, he said the real reason is simple: companies overhired aggressively during the COVID-19 boom and are now correcting their workforce sizes.

Speaking in a recent interview, Krishna explained that many tech firms expanded rapidly between 2020 and 2022, anticipating long-term demand that never fully materialised. As economic conditions shifted and growth stabilised, organisations began trimming excess roles.

Krishna noted that AI is not eliminating jobs at the pace people assume. He said automation will augment work, not wipe out large sections of the workforce overnight.

According to him, the current layoffs reflect a return

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