It doesn't matter if the main reason is they over-hired. Financial services is going to eat it up, there are eyes going wide all over the place in the C-suites, I am certain. Companies/Funds that own other companies see an opportunity to reduce input costs (human costs). Even if over-hiring and AI are both explained reasons, the second one is going to win out as it's a narrative that lines up with what their goal is, to reduce costs.

Now the question is will that sustain? Are 50% of us doomed? Is it temporary, and a reversal will take place? Will it start and sputter?