In the last month of January, the largest number of workers were laid off in the last 15 years. More than 82,000 people lost their jobs in the first month of 2024. Among them, financial and technology institutions have had the most layoffs, this number is 39 thousand.
This information was highlighted in a report published last Thursday by the training company Challenger, Gray and Christmas. It is mentioned that the number of layoffs in the financial and technology sectors is the highest in the last 10 months.
According to the report, US-based employers laid off a total of 82,307 people last month. Organizations cited restructuring, closures, market conditions and cost-cutting as the biggest reasons for layoffs.
Financial institutions laid off the most at 23,238 in January. Then there is the technology sector, where 15,806 workers were laid off. Besides, 6 thousand 656 people were laid off in the food production industry and 5 thousand 364 people were laid off in the retail sector.
The number of layoffs in the first month of the year last January was the highest since 2009, according to analysis by Challenger, Gray and Christmas. In January 2009, more than 241,000 jobs were cut due to the Great Recession in the US economy.
January’s job cuts were mostly in the financial and technology sectors, Challenger, Gray & Christmas noted, with September 2018 the largest layoff in the sector, amounting to more than 27,000.