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AI Drives Record Job Cuts in May | Durham News
U.S. employers slashed 97,000 jobs in May — a 16% spike from April and the highest for the month since pandemic-era lows — with tech leading the charge, cutting over a third of all positions. AI is now the top reason for layoffs, driving record highs in May alone (40% of cuts) and fueling a 66% year-over-year surge in tech job losses. Even as AI reshapes roles and forces restructuring, it’s also powering hiring in emerging areas — like Visa’s recent layoffs, which cite AI alongside growth bets in payments and global expansion. The labor market is being rewritten in real time — and the pace is…
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