Quote · Schwab Network
Thursday's Final Takeaways: QNT IPO Debut & TSM AI Chip Demand
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AI Layoffs and Private Labor Market Trends
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Marley Kayden discusses the latest private labor data showing picking-up layoffs, with artificial intelligence cited as a major driver of tech restructuring despite overall year-over-year job cut improvements.
Corporate layoffs rose in May, and for the third consecutive month, companies cited AI restructuring as the primary reason for these job cuts. Tech firms lead the workforce reductions even as they aggressively ramp up AI developer hiring.
Tech companies accounted for the largest share of cuts as they restructured headcount around automation and artificial intelligence initiatives.
The 400,000 figure is significantly lower than the nearly 700,000 job cuts announced during the same five-month window of 2025.
Quantinuum priced its upsized IPO at $60 per share, raising $1.68 billion in one of the largest sector offerings ever. The stock surged 10% on its first day, indicating massive investor hunger for next-generation hardware.
