Right now, AI has the potential to increase productivity. Work that's done by 10 people without AI, can be done by 5 people with AI. So 5 people can be laid off. But soon, companies will realize that rather than laying off half of their workforce, they can simply produce twice as much as before.
In reality, the AI productivity boost is nothing close to 100%. Maybe 10% per year. That could translate in 5% layoffs, 5% increased output. Nothing extraordinary compared to other times in history.