Big Tech’s earnings are on deck. There’s more for investors to watch than AI spending.

Investors are gearing up for earnings reports from Microsoft, Alphabet, and Amazon, but attention extends beyond AI spending to workforce reductions that are sparking discussions about how AI might transform jobs in these leading tech firms. These layoffs suggest a significant shift in how these companies plan to integrate AI, potentially impacting not just tech jobs but broader employment trends. The implications for market performance and the future of work are profound, making these quarterly reports more critical than ever.