So many companies cut their workforce as much as 10-15% citing that those jobs can be fully automated by the use of AI but I am still waiting to see any meaningful price cuts of their products from the said companies, etc.
Otherwise this will mean that they are doing this just to increase their profit margins and please their shareholders and don’t care about their customers or workforce.
All for profit business moves are always in the direction of lowering the cost to maximise the profit.
There have been instances where shareholders have removed executive officers because they wanted to go down that path but that goes against the priorities of the shareholders.
If I recall correctly, the shareholders also can and will sue you if you make a decision that earns them less money than if you had done something more profitable for them. So the companies have a legal incentive to only serve their shareholders.