Layoffs signal labor market recalibration

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Recently announced layoffs at Amazon and Microsoft may signal a recalibration of the U.S. labor market. Amazon said it will cut 18,000 jobs while Microsoft said it will slash 10,000.

, which it said in an SEC filing were "in response to macroeconomic conditions and changing customer priorities."also started slashing its headcount by 18,000 on Wednesday. In a Jan. 4 blog post about the layoffs, CEO Andy Jassy pointed to the "uncertain economy" as well as the company having "hired rapidly over the last several years."

Workforce solutions company ManpowerGroup recently found in its latest Employment Outlook Survey that the industries with the strongest hiring outlooks in the U.S. for the first quarter of 2023 were information technology, finance and real estate.

 

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