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AI boom reshapes U.S. corporate landscape as S&P 500 employment falls for first time in 10 years

Employment at major U.S. companies has turned to a decline as artificial intelligence spreads and firms pursue cost cuts and workforce redeployment. Total employment at S&P 500 companies fell to 28.1 million, down about 400,000 from a year earlier, marking the first annual drop since 2016. Layoffs have concentrated on white-collar roles, while some AI-related jobs command pay premiums. Companies are also cutting entry-level hiring and automating customer support and back-office work.