US job cuts hit 443,600 in 2026; this month saw the most tech layoffs

US companies announced 443,600 job cuts from January to June 2026. Technology sector led these reductions, with artificial intelligence cited as the primary reason. May 2026 saw the most severe wave of layoffs, impacting many tech firms. AI accounted for twenty-two percent of all job cuts this year. Hiring remains historically low, reflecting automation's impact on employment.

By TOI TECH DESK