India, June 16 -- The AI challenge appears to be intensifying, with job cuts surging to their highest levels in two years, according to a recent report.

U.S.-based employers announced 97,006 job cuts in May, up 16 per cent from the 83,387 cuts recorded in April and 3 per cent higher than the 93,816 announced in the same month last year, according to a report released recently by global outplacement and executive coaching firm Challenger, Gray & Christmas.

May's total marks the highest level for the month since 2020, when employers announced 397,016 cuts at the height of the COVID-19 pandemic. It also represents the third consecutive month of rising layoffs, with announced cuts climbing from 48,307 in February to 97,006 in May.

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