Challenger: US tech companies announced cuts to 38,242 jobs in May, the most since August 2024, taking 2026's total so far to 123,653 cuts, up 65% YoY (Julia Fanzeres/Bloomberg)

Julia Fanzeres / Bloomberg: Challenger: US tech companies announced cuts to 38,242 jobs in May, the most since August 2024, taking 2026's total so far to 123,653 cuts, up 65% YoY - US technology companies in May announced the most job cuts in nearly two years as they ramp up spending on artificial intelligence.