Labor market may have a 'tumultuous year' ahead of itself
02/02/2024 06:13
Job cuts jumped over 100% month-over-month in January 2024, according to a study from Challenger, Gray & Christmas. Despite this alarming figure, this number is not as high as compared to January 2023. Will this set precedence for the months to come? Challenger, Gray & Christmas Senior Vice President Andy Challenger joins Yahoo Finance Live to discuss the recent wave of job cuts and what role AI might have to play in this. Challenger notes that the “splash” of job cuts in January was unexpected and could be a “sign of turmoil in the labor market.” Challenger saw “about 381 jobs” that were cut either due to the pivot to AI or dissolving of roles that could be done by AI. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Eyek Ntekim
Job cuts jumped over 100% month-over-month in January 2024, according to a study from Challenger, Gray & Christmas. Despite this alarming figure, this number is not as high as compared to January 2023. Will this set precedence for the months to come?
Challenger, Gray & Christmas Senior Vice President Andy Challenger joins Yahoo Finance Live to discuss the recent wave of job cuts and what role AI might have to play in this.
Challenger notes that the “splash” of job cuts in January was unexpected and could be a “sign of turmoil in the labor market.”
Challenger saw “about 381 jobs” that were cut either due to the pivot to AI or dissolving of roles that could be done by AI.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Eyek Ntekim