Businesses Cut Costs with AI, Avoiding Layoffs

Businesses are adopting creative cost-cutting measures, such as freezing hires, using AI for entry-level tasks, and adjusting work hours, instead of widespread layoffs. This trend, dubbed a low-hire, low-fire economy, is noted in the Federal Reserves Beige Book report. While consumer spending remains uncertain, the outlook for 2026 is optimistic, with potential job market growth and a dip in unemployment rate.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.