AI will cause massive job cuts at this retailer

Bed Bath & Beyond CEO Marcus Lemonis is coming right out and saying it: The Utah-based retailer will cut scores of jobs because of AI. “I have to be unfortunately brutally clear and honest with everybody,” he told analysts in an earnings call April 27. “With the formation of AI outside of our business and now being deeply integrated in our business, we're going to experience significant reduction in headcount.” Numerous surveys show that workers fear AI will displace them, but few CEOs have been so blunt in their assessment. Besides eliminating supply chain costs, Lemonis listed IT, accounting, marketing and merchandising as jobs that will be threatened. “It’s never a good thing to do that,” he admitted. “The problem is we’re living in a different world.”