🚨 BREAKING: Job Cuts Surge in August 🚨

Job cuts at U.S. companies soared by 193% in August, reaching 75,891, compared to 25,885 cuts in July, according to The Challenger Report.

🔶 Tech firms led the surge with 39,563 job cuts – the most in 20 months – accounting for ~52% of all cuts.

🔶 Tech companies announced 5.5 TIMES more job cuts than the previous month.

🔶 The education sector has also been hit hard, with 25,396 job cuts in 2024 so far, marking a 222% increase from 2023.

This data further highlights the growing weakness in the labor market.

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