KPMG U.S. CEO Says AI Is No Y2K as 53% Plan Cuts in Some Areas

KPMG U.S. Chair and CEO Tim Walsh said artificial intelligence will not repeat the Y2K scare as U.S. executives plan workforce reductions in some areas while also restructuring roles and hiring for AI skills. The 2026 survey covered 400 U.S. CEOs at large companies, all of which had annual revenue above $500 million. The broader survey included 1,400 CEOs across 12 markets and ran from Aug. 11 through Sept. 21. The results describe large-company respondents, not all U.S. employers. Over the next two to five years, 53% plan workforce reductions in some areas, while 86% plan to redesign roles, career paths and team structures for human-AI collaboration. Another 83% are focused on retaining and retraining high-potential employees, and 79% plan to hire workers with AI and technology skills.

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