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Planned layoffs by U.S. employers surged in May, driven by the ongoing artificial intelligence (AI) boom and mergers and acquisitions.
Companies announced 97,006 job cuts last month, representing a 16 percent increase from April’s 83,387 layoffs, according to new data from global outplacement firm Challenger, Gray and Christmas, released on June 4.
This is also up 3 percent from a year ago, when 93,816 planned job cuts were announced.
May’s tally marked the highest for the month since 2020 and the largest reading since January.
AI was the top factor for the job cuts, the firm noted, as the technology sector reported more than 38,000 job cuts—the highest monthly total since August 2024….
Companies announced 97,006 job cuts last month, representing a 16 percent increase from April’s 83,387 layoffs, according to new data from global outplacement firm Challenger, Gray and Christmas, released on June 4.
This is also up 3 percent from a year ago, when 93,816 planned job cuts were announced.
May’s tally marked the highest for the month since 2020 and the largest reading since January.
AI was the top factor for the job cuts, the firm noted, as the technology sector reported more than 38,000 job cuts—the highest monthly total since August 2024….
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