US Job-Cut Plans Jump Due to AI and Tariffs, Challenger Data Show
In July, US companies announced a significant increase in job-cut plans, a spike that exceeded the monthly average since the pandemic, according to data from the outplacement firm Challenger, Gray & Christmas. The tech sector led the way in workforce reductions, with firms citing artificial intelligence (AI) and tariffs as key factors behind the job cuts. The report indicates that the rise in job-cut announcements reflects a broader economic shift, with companies adapting to technological advancements and adjusting their workforce to address the impact of trade policies. The data suggests that the job market is facing new challenges, as businesses navigate the changing landscape and seek to optimize their operations in response to these emerging trends.
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