Yes. And the first to lose their jobs would be the people managers. If machines do all the work, why would you need a people manager? You would need Engineers to manage these machines!!
On a serious note; over the years to come, machines will take away all jobs. And they will also create many more jobs. Drivers are on the verge of losing their jobs. Doctors will be replaced by machines that can diagnose diseases based on reports and prescribe medicines by parsing the reports and concluding on a diagnosis. Lawyers and Judges will be replaced by machines that can process the evidence and parse the constitution to produce a judgement. Accountants, developers, designers, builders.. you name it. All of today's professionals can be easily replaced by machines that are "intelligent" enough to do that job.
Then what would humans do? Humans will have to manage and feed these machines. A machine that prescribes medicines based on the historic data can never identify new diseases. It will be confused when the disease does not match any of the textbook symptoms. We will need a person to intervene in such a situation. Every profession has a part of the work that is purely based on analysis of historical data. This can be easily delegated to machines that keep upgrading themselves. But there are tasks that need something more. None of our tasks is purely based on what we have learnt. Learning is essential. But it is much more important to identify if that learning is valid in this scenario - or do we need to make an exception here. Human intervention is always required in such cases. Machines will take off the load of analysis and allow the mind to be free for more creative exploration.
In simple words, if you are doing what a machine can do, nobody will need you once the machine is in action. But if you are using skills beyond that, there is no way a machine can replace you. If you are innovating; if you are using your creative skills; if you have an understanding of the non-measurable parameters of life; if you have the knack of hitting the bulls eye without explicit analysis, a machine can never ever replace you.
I remember the days back in late 1970's and 80's - when the governments were planning to introduce software automation in the banking sector. There was a huge opposition from labor unions, saying that software will soon replace humans and everyone will be jobless... Luckily the governments did not bend and went ahead with the decision. Today, software development is the single largest source of income in the world.