News

Business

On HALO

1 day ago

AI remains top reason for US job cuts for third straight month as employers axed 97,000 workers in May

U.S. employers ramped up layoffs in May as the artificial intelligence (AI) rollout was the leading factor cited by companies cutting their workforces, new data shows.Companies announced 97,006 job cuts in May – an increase of 16% from the 83,387 cuts in April and an increase of 3% from the 93,816 cuts announced last May, according to a recent report by global outplacement and executive coaching firm Challenger, Gray & Christmas.AI was the leading reason cited for job cuts for the third consecutive month, with 38,579 cuts attributed to AI. It's the highest monthly total for the reason sinc...