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_february-layoffs-hit-highest-level-since-2009.webp "February Layoffs , Hit Highest Level Since 2009.<br/>According to a report released by <br/>Challenger, Gray & Christmas on March 7, companies cut 84,638 jobs in February.<br/>That number represents a 3% increase <br/>from January and a 9% jump <br/>year-over-year, Fox Business reports.<br/>As we navigate the start of 2024, we're <br/>witnessing a persistent wave of layoffs. , Andy Challenger, senior vice president of <br/>Challenger, Gray & Christmas, via Fox Business.<br/>Businesses are aggressively slashing <br/>costs and embracing technological <br/>innovations, actions that are <br/>significantly reshaping staffing needs, Andy Challenger, senior vice president of <br/>Challenger, Gray & Christmas, via Fox Business.<br/>Tech companies had the most <br/>layoffs in February, over 12,000.<br/>The sector has cut over 28,000 jobs since the beginning of 2024, Fox Business reports. .<br/>Financial firms lost over 26,000 jobs <br/>since the beginning of the year.<br/>That is a 54% increase in layoffs for the sector compared to the same time last year.<br/>Other sectors to experience significant layoffs this year include manufacturing, energy and education.<br/>In light of the backlash some companies <br/>have faced for directly attributing job <br/>cuts to artificial intelligence, , Andy Challenger, senior vice president of <br/>Challenger, Gray & Christmas, via Fox Business.<br/>... they appear to be framing this <br/>shift as a ‘technological update’ <br/>rather than an outright substitution <br/>of human roles with AI, Andy Challenger, senior vice president of <br/>Challenger, Gray & Christmas, via Fox Business.<br/>In truth, companies are also <br/>implementing robotics and <br/>automation in addition to AI. , Andy Challenger, senior vice president of <br/>Challenger, Gray & Christmas, via Fox Business.<br/>It's worth noting that last year alone, <br/>AI was directly cited in 4,247 job <br/>reductions, suggesting a growing <br/>impact on companies’ workforces, Andy Challenger, senior vice president of <br/>Challenger, Gray & Christmas, via Fox Business")
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