U.S. employers announced 60,620 job cuts in March, a 25% increase from February. This figure is still down 78% compared to March last year. Artificial Intelligence (AI) was the leading reason for cuts in March, accounting for 15,341 positions. Technology, Transportation, and Healthcare sectors show the highest year-to-date job reductions. Overall first-quarter cuts are the lowest since 2022. Companies are shifting budgets towards AI investments, impacting traditional roles.
https://www.challengergray.com/blog/challenger-report-march-cuts-rise-25-from-february-ai-leads-reasons/