According to the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey, the information sector’s layoff rate jumped 0.7 percentage points in June to 2.3%, with 63,000 workers let go during the month. The six-month moving average layoff rate climbed to 2.0%, its second-highest reading on record, surpassing peaks seen during both the 2008 financial crisis and the 2001 recession. Oracle (NYSE: ORCL) led all companies in absolute job losses heading into the summer, cutting 21,000 positions, which represented approximately 13% of its total workforce and fully one-third of the quarter’s total sector losses. Intuit (NASDAQ: INTU) reduced its headcount by 3,000 positions, targeting organizational complexity while simultaneously shifting resources toward AI initiatives, a pattern increasingly common across large technology firms. The broader debate over whether AI will eventually create more jobs than it eliminates remains unsettled, but the current data points clearly in one direction for technology workers navigating the labor market right now.