Rising Job Cuts and Layoffs in Tech Industry Predicted to Continue
TL;DR Summary
US employers announced 89,703 job cuts in March, a 15% increase from the previous month, with technology companies leading the way, according to a report by Challenger, Gray & Christmas. The report also showed that employers announced plans to cut more than 270,416 jobs so far this year, a 396% increase from the same period last year. The tech industry has already slashed about 102,391 jobs so far in 2023, a stunning increase of 38,487% from just one year ago. The Federal Reserve's interest rate hike campaign is expected to trigger a recession, leading to more job losses and a rise in unemployment.
- Job cuts surged 15% in March, and large-scale layoffs 'will likely continue:' Report Fox Business
- Layoffs are up nearly fivefold so far this year with tech companies leading the way CNBC
- 'It's an especially bad time': Tech layoffs are hitting ethics and safety teams CNN
- Job Cuts Are Up Almost 400% This Year As Jobless Claims Rise Forbes
- Tech's Year of Efficiency Already Priced In The Wall Street Journal
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