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US layoffs halve in June as tech job cuts ease
Layoffs in the United States nearly halved in June from a month earlier as job cuts in the technology sector fell, according to data from employment firm Challenger, Gray & Christmas Inc. Corporate America has taken to laying off a large number of their workforce, as aggressive interest rate hikes by the Federal Reserve to tame inflation have besmirched the United States’ economic outlook, stoking fears of a potential recession. Despite the drop in job cuts in the month, layoffs in June were higher than the corresponding month a year earlier, the report said. Technology companies continue to lead job cut ... (full story)