Regardless, one person still costs 1/100 as much as 100 people. Let's say each of the 100 adopts AI and multiplies their productivity by 100. Does their company need its total engineering productivity multiplied by 100? They might settle for let's say 3X and save 97% of the costs by firing 97 people.
(I tend to ignore most of the hype and I'm dubious about that 100X figure, but I'm taking it at face value here for illustrative purposes.)