Risk of ‘significant upheaval’ in jobs market, Irish premier warns

There could be a “significant upheaval” in the jobs market as a result of artificial intelligence, Ireland’s premier has said, after Meta said it intends to cut 10% of its global workforce.

The Facebook and Instagram owner said it plans to cut around 8,000 jobs in a bid to boost efficiency.

Meta reportedly employs around 1,800 people in Ireland and the company has already cut hundreds of jobs at its Irish operation in recent years.

The Irish Government said it will take “a few weeks” for the full impact on the Irish workforce to become clear.

Meanwhile, Microsoft is preparing a voluntary redundancy scheme in which it plans to make offers to about 8,750 people in early May, or 7% of its US workforce.

Speaking to reporters in Cyprus, Taoiseach Micheal Martin said: “I think there is a concern overall in terms of the impact of AI on jobs.

“When I was in the United States in March, I met with quite a number of industry people who all signalled that in the US, there’s a very strong focus now on AI and cutting jobs in the United States.

“At Governmental level, I’m looking at proposals to see how we can endeavour to identify the implications and the impact of AI on the world of work over the next number of years.”

Mr Martin said new jobs could be gained from increased investment in AI in Ireland but added: “I think we should be mindful of the fact that there could be significant upheaval in the jobs market over the next decade.

“And it could be earlier, rather than the latter half of that decade.

“So we have to be very focused on creating new opportunities.”

Simon Harris, the country’s deputy premier and Finance Minister, said his thoughts are with the employees in a “stressful and anxious time”.

“My understanding is, while Meta have made an indication on a global level of changes that they intend to make to their workforce, they’ve yet to provide any detail as to what that would mean for individual countries in which they have operations,” he said.

“That may take quite a few weeks, is our understanding.”

Mr Harris said Enterprise Minister Peter Burke is continuing to engage with Meta through the Industrial Development Authority.