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Challenger US June Layoff Intentions Decline on AI-Related Cuts

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Outplacement firm Challenger, Gray & Christmas said on Wednesday that companies planned to cut 45,849 jobs in June, well below 97,006 in May and down from 47,999 a year ago.

The largest layoff counts in June were in the technology and services sectors, which announced 15,503 and 4,296 job cuts, respectively. The most cited reason for layoffs was artificial intelligence, which accounted for 14,029 of the monthly total.

"The pace of layoffs cooled considerably in June, similar to plans last June, and as is typical for summer months," said Andy Challenger, the company's chief revenue officer. "That said, the cuts we are seeing remain concentrated in technology, and artificial intelligence continues to reshape how companies think about headcount."

In total, there were 10,933 hiring plans announced in June, down from the 19,536 hiring plans in May, but up from 3,191 a year ago. The entertainment sector was the largest hiring sector, which accounted for 3,300 of the hiring plans.

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