Adecco study rejects AI job apocalypse fears
The world's largest staffing company argues AI is reshaping rather than eliminating work, despite a wave of tech sector layoffs blamed on the technology.
Artificial intelligence will not cause mass unemployment, according to a new study by Adecco Group, the world's largest staffing company. The findings push back against growing anxiety that the technology will trigger a widespread collapse in employment.
The report comes as major employers increasingly cite AI when implementing job cuts. US employers have attributed nearly a quarter of layoffs this year to the technology, according to Challenger, Gray & Christmas. Recent months have seen Microsoft, HSBC Holdings, Amazon and Standard Chartered all reduce headcounts as they redirect capital toward AI capabilities.
Denis Machuel, Adecco's chief executive, challenged this narrative. He suggested some companies are using AI as a convenient explanation for reductions actually driven by weak performance or broader restructuring.
"AI is bringing a massive evolution in the world of work, but a job apocalypse is not on the horizon," Machuel said. "It's more about changing roles and tasks than eliminating jobs."
The Zurich-based company pointed to macroeconomic data to support its case. Three and a half years after the launch of OpenAI's ChatGPT, employment rates across the 38 member states of the Organisation for Economic Co-operation and Development remain at record highs, with unemployment near historic lows.
Machuel drew a direct parallel to previous technological shifts. The arrival of steam power, electricity, information technology and the internet all fundamentally transformed the workplace without destroying jobs on a mass scale.
Talent pipeline risks
The study does acknowledge structural shifts in the labour market. Entry-level positions are contracting, but Machuel warned employers against simply eliminating junior roles, noting this would severely damage long-term talent pipelines.
Instead, companies must redesign these positions so AI acts as a complement to human workers. Achieving this transition will require significant investment in upskilling and reskilling, alongside closer coordination between businesses, governments and educational institutions.
For investors tracking AI adoption, the Adecco findings suggest the technology's near-term impact on corporate headcounts may be less dramatic than recent layoff announcements imply. The greater challenge for businesses will be managing the operational transition and training costs associated with reshaping roles rather than drastically reducing them.
