Job cuts are beginning to spread like cancer from tech to other industries, including banking, retail, and media sectors. Challenger said the media industry announced 17,400 job cuts so far this year. Banking has seen a surge in layoffs. Financial firms announced 37,000 job cuts through May, more than four times the number compared to last year.The Federal Reserve’s 14 months of aggressive interest rate hikes have led companies to reign in costs. Challenger said many firms have embarked on a hiring freeze due to mounting macroeconomic headwinds and increasing risk of a slowdown later this year.Large-scale job cuts will likely continue as Challenger data shows layoffs rising at 287% YoY…
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