Layoffs have quadrupled since last year, with media and tech suffering the worst blows. Media has had a record number of year-to-date cuts while tech job losses were the highest since 2001, according to a new report from recruiting firm Challenger, Gray & Christmas.
Every industry increased layoffs this year, except for education, government, industrial manufacturing, and utilities. Tech led the May surge with over 22,000 layoffs for the month, up 2,939% from the same period last year. The total number of layoffs in May was up 20% from April.
