ToplineThe technology industry cut over 123,000 jobs so far this year, Challenger, Gray & Christmas said in their most recent layoff report published on Thursday, which also found that artificial intelligence has now become the most frequently cited reason for layoffs this year.TimelineMAY 25, 2026U.S. employers cut a total of 97,006 jobs in May, the most recent Challenger report found, and the tech sector leads with 38,242 job cuts—the most in a single month for the sector since August 2024.AI is now the leading reason cited for job cuts—responsible for an estimated 38,579 in May and 87,714 year-to-date—overtaking market and...