Announced layoffs fell in July while announced hirings by companies reached their highest level for the month since 2022, according to a report by global outplacement firm Challenger, Gray & Christmas.
"The pace of layoffs fell dramatically this summer. Layoff plans continue to be announced primarily in Tech, and artificial intelligence is still the story, as investments in the technology reshape organizations," said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas. "Hiring has also increased over last year by 25 percent, so while AI is shifting the labor market, it is not dismantling it."
