Businesses with fewer than 1,000 employees made 92% of May hires
Small businesses with fewer than 1,000 employees accounted for 92% of private sector hires in May, with companies employing 10 to 49 people making the largest contribution. Companies with 5,000 or more employees posted 3% of job openings but made fewer than 2% of actual hires.
Read full story →Meta cashflow craters as Zuckerberg doubles down on AI spending
Meta's second-quarter free cashflow dropped 91 percent due to substantial spending on artificial intelligence infrastructure. The company continues investing heavily in AI development despite uncertainty about future returns on these expenditures.
China warns of retaliation if US sticks with robot ban
China's commerce ministry warned of retaliatory measures if the US maintains its import ban on new Chinese robots and power inverters. The statement came in response to unilateral US trade actions that China views as threatening to its economic interests.
Is AI really a job killer? Some employers say they’re actually hiring more
Visa announced plans to eliminate 7% of its workforce, totaling 2,600 employees, with CEO Ryan McInerney citing AI as a factor in how work gets done. A ZipRecruiter survey found that 35% of recruiters expect AI to increase head count at their companies, while 24% said hiring had already increased due to AI.