56% of S&P 500 firms with AI-related layoffs traded lower
Companies that have tied workforce reductions to artificial intelligence have not always seen a boost in their stock prices.
As of May 15, 13 of 23 S&P 500 firms that announced AI-linked layoffs have traded in the red, with an average decline of about 25%.
Notable examples include Nike, which cut nearly 800 workers in January and has since seen its stock fall nearly 35%, and Salesforce, which has shed about 32% since its AI-driven layoffs were announced.