US Employers Announced More Than 100,000 Job Cuts in January

US employers in January announced the most job cuts since 2020, according to data compiled by Challenger, Gray & Christmas, Inc.

Businesses reported 102,943 cuts in the month, more than twice those announced in December and up 440% from January 2022. The technology sector made up 41% of the planned reductions, Thursday’s report showed. Announced layoffs at retailers and financial companies also climbed from a year ago.

“We’re now on the other side of the hiring frenzy of the pandemic years,” Andrew Challenger, senior vice president of Challenger, Gray & Christmas, Inc., said in a statement. “Companies are preparing ...