January hiring was the lowest for the month on record as layoffs surged
Publishing timestamp: 2024-02-01 10:10:13
Summary
The article reports that January 2023 saw the highest level of job cuts since early 2023, with technology and finance sectors being the hardest hit. Companies such as Microsoft, Alphabet, PayPal, Amazon, and UPS announced workforce cuts. The layoffs were driven by economic trends, automation, and cost-cutting. The report follows news of slow private payroll growth and an increase in initial jobless claims.
Sentiment: MIXED
Keywords: economy, layoffs, united parcel service inc, technology, breaking news, alphabet inc, business news, breaking news: economy, financials, breaking news: technology, microsoft corp,