The technology and fintech industries saw more job cuts in May than in the entire rest of the year put together, according to outplacement firm Challenger Gray & Christmas. There were 4,044 job cuts announced in May for technology, compared to 459 in January through April, and there were 1,619 job cuts announced for fintech, compared to 440 in January through April. The construction also saw more job cuts in May, 817, than the 333 during the year to April. However, the total number of job cuts announced in the U.S. dropped 15% in May to 20,712, Challenger said.
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