The technology sector is experiencing a sharp wave of job losses driven by rapid AI adoption, with the information sector’s layoff rate jumping 0.7 percentage points in June to 2.3%, and 63,000 workers let go during the month, ranking as the third-highest total since April 2020. The six-month moving average layoff rate climbed to 2.0%, its second-highest reading on record, surpassing peaks from the 2008 financial crisis and the 2001 recession. Oracle led all companies in absolute job losses, cutting 21,000 positions, approximately 13% of its total workforce and one-third of the quarter’s total sector losses, with its 10-K filing explicitly linking AI adoption to workforce reductions. Microsoft eliminated roughly 4,800 positions, or approximately 2.1% of its global workforce, while Cisco cut 4,000 jobs and Intuit reduced headcount by 3,000 positions. Smaller companies saw more dramatic proportional cuts, with Groupon eliminating up to 400 positions representing nearly 25% of its workforce, ClickUp cutting 22% of staff, and Intuit reducing headcount by 17%. Challenger, Gray and Christmas reported AI was cited in 40% of announced U.S. job cuts in May, its highest share on record, before accounting for 31% of cuts in June, with AI cited in 101,743 announced cuts through the first half of