Job Cuts Surge in US, AI & Cost-Cutting Blamed

Job cuts surge in the US, with over 150,000 layoffs in October, marking the largest monthly reduction in over two decades. Technology firms led the private sector, followed by retailers and services. AI adoption and cost-cutting measures are primary reasons. This years cuts are 65% higher than last years, with nearly 1.1 million job cuts announced from January to October. The highest level since 2020, with nearly 450 individual plans tracked in October. The Daily News Now! - Every city. Every story. AI Powered. Hosted on Acast. See acast.com/privacy for more information.