Tech companies are posting record profits.

At the same time, layoffs are at their highest levels since 2020.

So what’s actually going on?

In this episode of Hire Ground, we break down the “pivot penalty” — the hidden financial rule driving mass layoffs in 2026. As CEOs double down on AI infrastructure and capital expenditures, human payroll is being slashed to fund the shift from OpEx to CapEx.

This isn’t a recession.

It’s a structural reset.

We unpack:

• Why mentioning “AI” on earnings calls correlates with deeper layoffs

• The OpEx → CapEx swap reshaping corporate balance sheets

• 1.2 million layoffs in 2025 — and why January 2026 tripled December’s cuts

• The $600B hyperscaler AI infrastructure surge

• Project Rainier and the race to break the Nvidia tax

• AI ...