Reported about 12 hours ago
October saw a dramatic rise in layoff announcements in the U.S., with over 153,000 job cuts reported, marking a 175% increase from the previous year and the highest October total since 2003. Major companies like Amazon and Target attributed these layoff decisions to AI disruptions amidst rising operational costs and changing consumer behaviors. Despite the surge in layoffs, translating this into higher unemployment figures remains complex due to the ongoing government shutdown affecting official economic statistics.
Source: YAHOO