Posted 2/1/2024, 10:44:14 PM
Job Cuts Double from December, Though Lower Than Last Year's Surge Amid AI Shifts and 2024 Uncertainty
- Job cuts jumped over 100% from December 2022 to January 2024, though lower than January 2023
- There was an unexpected "splash" of layoffs in January, signaling potential labor market turmoil
- Around 381 job cuts were attributed to AI implementation or pivoting roles to be done by AI
- The 2024 election cycle may contribute to a tumultuous year and more cost-cutting by companies
- Layoffs are expected to continue at least through the first half of 2024 as companies brace for challenges