Commonwealth Bank of Australia CEO Matt Comyn has warned that artificial intelligence will reshape work across multiple industries, and that ignoring the shift won't protect employees. His comments come as new data shows global tech layoffs topping 144,000 in 2026 alone, with the US recording a 40% year-over-year jump in the first quarter.
CBA plans two rounds of cuts
CBA will eliminate about 120 roles in April 2026, the bank confirmed, following a separate round that cut roughly 300 jobs two months earlier. Comyn didn't directly link the layoffs to AI, but he argued that pretending the technology won't affect employment does workers no favors. Some tasks will become automated, he said, while other positions will expand and many jobs will keep their basic structure as skills evolve.
Wix cuts 20% of staff
Website-building platform Wix is reportedly preparing to cut about 20% of its workforce, affecting around 1,000 employees across Israel and its international offices. The company hasn't publicly detailed the reasons, but the move aligns with a broader trend of tech firms trimming headcount. The cuts come as AI tools increasingly handle tasks once done by humans.
US tech layoffs hit 52,050 in Q1
US-based tech companies laid off 52,050 workers in the first quarter of 2026, according to Challenger, Gray & Christmas. That's a 40% increase from the same period last year. The global picture looks starker: TrueUp, a layoff tracker, has logged more than 144,000 cuts worldwide this year. California, home to Silicon Valley, is already preparing for AI-driven displacement, though officials haven't detailed specific plans.
Comyn: Jobs will change, not vanish
Comyn stressed that AI's impact won't be uniform. While some roles shrink, he said, others will grow, and many existing jobs will simply adapt as workers pick up new skills. The CBA CEO didn't offer a timeline for when these shifts might accelerate, but he made clear that resistance isn't a strategy. The question now is how quickly workers and companies can retool for a landscape where AI is no longer a future threat but a present reality.
