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In March, U.S. layoffs rose by 7 percent, up from 84,638 job cuts in February to 90,309, the highest rate since January 2023 as AI-related restructuring continues to make its presence felt across numerous industries. Tech layoffs may have dominated the headlines in 2022 and 2023 thanks to 165,269 and 263,180 workers respectively receiving severance…
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U.S. layoff announcements rose 7% in March to the highest since January 2023, led by technology and government-sector job eliminations, though cuts announced year to date are down 5% from a year ago amid a still-strong job market, a report out on Thursday showed. Job cut announcements increased to 90,309 in March from 84,638 in February, outplacement firm Challenger, Gray & Christmas said. The technology industry continued to outpace other sectors in jobs cuts through the first quarter of this year, announcing 14,224 in March and 42,442 since the year began.
Layoffs in the U.S. rose 7% in March to the highest level in over a year as companies continued to battle deteriorating market and economic conditions.