Tech firms lead companies with most December job cuts -report

NEW YORK : American technology firms dominated the number of announced job cuts in December, as some employers downsized workforces to brace for the prospect of difficult economic times looming ahead.

The planned pace of layoffs in December was well above the 19,052 cuts announced in December 2021, the report said. For all of 2022, the report said there were 363,824 planned layoffs, up 13 per cent from 2021. Layoffs are taking place in an economy where overall job growth has remained strong and unemployment, which stood at 3.7 per cent in November, is at a historically low level.

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