In August, U.S. employers announced nearly 76,000 job cuts, a significant rise from around 26,000 in July, marking the highest August total since 2009, excluding the pandemic spike in 2020. Factors driving these cuts include rising operational costs and economic uncertainty, with technology companies leading the layoffs due to a shift towards AI and automation. Hiring plans also fell to their lowest since 2005, with only about 80,000 announced, reflecting ongoing pressures to manage workforce decisions amid market challenges.

Source: https://www.supplychaindive.com/news/august-2024-job-cuts-tech-manufacturing/726467/