January is often a big month for layoffs. Here's what to do in a worst case scenario

Unemployment tends to rise in January, historically one of the busiest months for layoffs. (Anchalee Phanmaha/Getty Images)

January is historically the busiest month for job cuts.

The first month of the year "is when most companies are doing restructures, reorganizations and setting the direction," says Sarah Rodehorst, co-founder of Onwards HR, which helps companies carry out layoffs, adding that tech, health care, banking and finance are likely to see the biggest cuts in 2023.