Jobs Cuts Accelerate in March, Led by Tech and Finance Layoffs

• Pace of job cuts by U.S. employers accelerated in March to highest level since January 2023

• 90,309 job cuts planned in March, a 7% monthly increase and 0.7% annual increase

• Technology companies had most layoffs in March at 14,224

• Financial firms cut 28,715 positions in Q1 2022, down 6% from Q1 2021

• Cost-cutting was top reason cited for 66,302 layoffs in Q1