It might provide cover to lay off more than 5% of us (the LLM can create a work-like text product that, as far as upper management can tell, is indistinguishable from the real thing!), then we will have to go find jobs swinging hammers to build houses. Well, somebody’s got to do it.
The idea that companies need "cover" to perform layoffs (particularly in the US) doesn't make sense to me. Tech companies, all companies lay people off regularly. (To a first order approximation) if a worker is a net positive to a company then the company will want to keep them, and if they are not then the company will want to get rid of them. AI or no AI.