Home
Opinion
Tens of thousands of people have been laid off from their jobs in America. History has seen its share of mass layoffs — sparked by wars, devastating famines, economic collapses, or other seismic disruptions. But today’s crisis feels distinctly modern. In July alone, the technology sector hemorrhaged over 10,000 jobs, marking a jarring 36% surge in layoffs for the industry. The culprit? Artificial intelligence (AI).
A recent report from Challenger, Gray & Christmas (CGC) laid bare the scale of this upheaval. “So far this year,” the report reads, “companies have announced 806,383 job cuts, the highest YTD since 2020 when 1,847,696 were announced. It is up 75% from the 460,530 job cuts announced through the first seven months of last year and is up 6% from the 2024 full ye