If people are being laid off and rehired at lower pay, isn't this "success" for most (larger?) companies?

Classic MBA nonsense.

This isn't AI replacing workers - it's using AI as cover for offshoring and wage suppression.

The playbook: Announce layoffs citing "AI efficiency gains" (stock jumps), quietly rehire 6 months later at half the cost offshore, then claim "AI productivity" let you do more with fewer FTEs.

The tell: If AI actually replaced the work, you wouldn't need to rehire at all. The fact they're rehiring at lower wages proves the work still needs humans.