This is just corporate speak for saying that they're soft launching terminations.

In the 20th century, Henry Ford raised wages for his factory workers not out of the goodness of his heart, but because he knew that in order to have a mass market, the masses need to be able to afford his product.

When we ruthlessly cut human labor to lower the cost of a product/service, we are eliminating the very consumer base that generates demand. 

We are consuming the consumers.

If 40% of people are unemployed or underemployed, who is left to buy the products that the hyper-efficient AI is making?

This is a chaotic, short-sighted race to the bottom.

But sadly this is well-aligned with the baseline asinine principle of capitalism: pushing for infinite growth on a planet with finite resources.