It didn't read to me that they're laying people off because they think ChatGPT lets them need less employees, which is what most of the fearmongering (which may in time be justified) has been about A.I.

From what I read it sounded like they're making a major shift to investment in A.I. technology, and dropping departments in their company that don't align with that new direction (while aggressively hiring in the A.I. field).

Companies have shifted focus all the time in the past, and axed departments that no longer align with that vision. Meta's doing that right now with enterprise VR as they're dropping that to focus more on A.I. as well (have to jump on that A.I. bandwagon to please them shareholders, after all, which I don't doubt is half the reason Dropbox is doing this as well). But this isn't exclusive to A.I.