US Job Cuts Surpass 1.1M, Hiring Slowdown Looms

Job cuts in the US surpass 1.1 million, with 1.17 million announced in 2022, marking a 54% increase from last year. Verizon and tech companies contribute to the rise due to AI advancements and corporate restructuring. Tariffs also play a role, with over 2,000 cuts in November and nearly 8,000 year-to-date. Hiring slowdown is also noted, with under 500,000 planned hires, a 35% decrease from last year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.