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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
U.S.-based employers announced 97,006 job cuts in May, marking the highest level for that month since 2020 and a 16% increase from April. According to a report from Challenger, Gray & Christmas, the technology sector remains the leading sector for staff reductions. Notably, artificial intelligence was cited as a driver for 40% of the total workforce reductions announced.