Layoffs surged in February as shift to AI grows

Published

2 years ago

March 8, 2024

The pace of job cuts by American employers accelerated notably in February, marking the highest level of layoffs for the month since 2009.

The report revealed that companies planned a staggering 84,638 job cuts in February, signifying a 3% increase from the previous month and a significant 9% surge compared to the same period last year.

This spike in layoffs underscores the mounting challenges faced by businesses amidst persistent inflationary pressures and elevated interest rates.

Andy Challenger, Senior Vice President of Challenger, Gray & Christmas, emphasized the profound impact of technological advancements on reshaping staffing needs.

“As we navigate the start of 2024, we’re witnessing a persistent wave of layoffs. Businesses are aggressively slashing costs and embracing technological innovations.”

Job losses

The technology sector bore the brunt of these job losses, with 12,412 employees laid off in February alone, contributing to a total loss of 28,218 jobs since the beginning of the year.

Financial firms followed suit with 26,856 layoffs since the start of 2024, marking a striking 54% increase compared to the same period last year.

Industrial goods manufacturing companies and energy firms also experienced a notable surge in layoffs, slashing 7,806 and 1,059% more positions respectively compared to last year.

Meanwhile, the education sector saw a significant increase in layoffs, trimming 6,336 positions in February, a stark rise from the 607 layoffs announced during the same period in 2023.

U.S. dollar weakens while Australian dollar rises amid global market shifts

Published

2 days ago

January 30, 2026

Harvey Vargas

US dollar weakens as Trump comments; Australian dollar gains from commodity prices and RBA rate hike expectations

The US dollar is coming under pressure as the economy remains strong and President Trump comments on its decline. We explore how this is impacting major currencies around the world and what it means for investors.

Meanwhile, the Australian dollar is benefiting from rising commodity prices and growing expectations of an RBA rate hike. Global investors are increasingly drawn to Australia’s bond market as economic conditions shift.

Currency trading strategies are adapting to this changing landscape, with potential implications for interest rates and international markets. Steve Gopalan from SkandaFX breaks down the trends.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#USDDollar #AustralianDollar #ForexTrading #RBA #InterestRates #GlobalEconomy #CurrencyMarket #Ticker

Money

Wall Street slides as AI spending raises investor concerns

Wall Street dips as AI spending scrutiny rises; Microsoft struggles while Meta thrives. Tune in for insights!

Published

2 days ago

January 30, 2026

Harvey Vargas

Wall Street dips as AI spending scrutiny rises; Microsoft struggles while Meta thrives.

Wall Street closed lower on Thursday, with the Nasdaq leading losses as investors questioned whether Big Tech’s massive AI spending will pay off. Microsoft shares tumbled after revealing record AI infrastructure costs, while Meta rallied on strong earnings and a bullish outlook.

Kyle Rodda from Capital.com joins us to explain what spooked markets, which tech names are holding up, and whether AI budgets are getting too big.

We also discuss rate expectations, macro risks, and what to watch in the upcoming earnings season.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

Money

Tesla brand value plummets amid Elon Musk’s political focus

Tesla’s brand value plummeted to $27.61 billion in 2025 amid Musk’s political shift, sparking investor concern.

Published

4 days ago

January 28, 2026

Harvey Vargas

Tesla’s brand value plummeted to $27.61 billion in 2025 amid Musk’s political shift, sparking investor concern.

Tesla’s brand value plummeted by $15.4 billion in 2025, falling to $27.61 billion from $66.2 billion in early 2023. Analysts say Elon Musk’s political focus and a slowdown in new models have distracted the company’s core business.

In the U.S., Tesla’s recommendation score sank to just 4 out of 10, down from 8.2 in 2023. Despite this, loyalty among existing owners remains high at 92 per cent, showing a strong but shrinking fan base.

#TeslaNews #ElonMusk #BrandValue