AI, Mergers Fuel 16 Percent Jump in Layoffs Last Month

A “We’re Hiring” sign at a grocery store in Ellicott City, Md., on March 24, 2024. Madalina Vasiliu/The Epoch TimesPlanned layoffs by U.S. employers surged in May, driven by the ongoing artificial intelligence (AI) boom and mergers and acquisitions.Companies announced 97,006 job cuts last month, representing a 16 percent increase from April’s 83,387 layoffs, according to new data from global outplacement firm Challenger, Gray and Christmas, released on June 4.