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Tech Sector Drives Record Layoffs in 2023

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job market, with companies planning 721,677 job cuts, a 98% increase from 2022, according to a study published by Challenger, Gray & Christmas, Inc. In 2023, many companies, especially those operating within the tech sector, were entering a cost-cutting phase. Last year was marked with major shifts in the U.S.

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Despite Continued Layoff News, Latest Data Shows Resilient U.S. Job Market

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As reported by BLS, “Payroll employment increased by an average of 255,000 per month in 2023.” BLS’ figures on wages coincide with ADP’s findings released earlier this week. over last year’s figure — also exceeding economist’s expectations of 4.1%, according to an analysis published by yahoo!finance. ADP reported 5.2% finance.

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AI Boom Fuels Office Leasing Surge In Tech Hubs

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According to a CBRE study featured by Yahoo Finance , the tech industry has reclaimed its position as the leading industry for office leasing growth in 2023, accounting for 16.5% Yahoo Finance Reports that the share of leased office spaces by the tech industry remains below its pre-pandemic peak of 22% in 2019.

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Job Seekers Losing Leverage, Pay, Flexibility As Job Market Flips

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One of the most notable trends is the reported decline in organizations planning to offer salary increases this year — dropping to 79% from 86% in 2023. In 2024, the average increase in base pay rise is expected to be around 4.5%, only slightly above the current inflation rate of 3.2%.

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It’s Not the End: Why Creating an Exit Strategy Sets Your Business Up for Long-Term Success

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Yahoo is one of the best examples of failing to acquire other exiting companies and failing to maximize on their own exit,” Smith recalls. Yahoo refused to buy Google for $1 billion in 1998 and again refused $5 billion in 2002. In 2023, Google has a market cap of $1.7 billion.”

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How to Make Sustainable Practices Make Sense for Your Business

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. “Consumer commitment to environmental sustainability and social responsibility has intensified with consumers voting with their wallets,” Jonathan Wright, global lead for cognitive process reengineering at IBM, told Yahoo Finance.