Posted 1/23/2024, 8:17:30 PM
US Layoffs Surge in 2023, Driven by Economic Fears and Rise of AI
- Layoffs across the US attributed to economic uncertainty, store closures, business bankruptcies, and AI's influence
- 2023 saw a 98% surge in US layoffs compared to 2022, with over 721,000 job cuts
- Tech sector faced 168,032 layoffs in 2023, a 73% annual increase
- Report warns trend of layoffs likely to continue as companies focus on cost containment
- Advances in AI and mergers/acquisitions suggest potential for more tech layoffs