Economists are realizing the job market is cooling. Workers have known it for months
By Sarah Foster, Bankrate.com
Andy Challenger is the person businesses call when it’s time to let workers go. And for the past year and a half, his phone hasn’t stopped ringing.
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A third-generation outplacement consultant at Challenger, Gray & Christmas — the firm his grandfather founded in the 1960s after his own layoff — Challenger has heard a variety of reasons over the past few months for trimming headcount. Companies looking to cut staff after the pandemic-era hiring boom. Executives debating how to integrate artificial intelligence. Businesses worrying about eating the cost of higher tariffs. Firms tightening their belts in a slowing economy.