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Recruiters warn that, in this new environment, only the most persistent, adaptable candidates — those who continually refine their resumes and stay laser-focused — will break through.

Additionally, Starbucks announced it was cutting around 1,100 corporate jobs.

“Employees are laser-focused on benefits, especially time-off benefits,” said Alex Henry, North American group benefits leader with WTW.

“Now more than ever, employees are laser-focused on [benefits] that enhance their particular experience.”

Restructuring was cited for 9,146 job cuts, while cost-cutting accounted for 5,636 planned layoffs.Artificial intelligence (AI) was cited for 4,680 job cuts in February, approximately 10% of total cuts for the month.

Chinese Finance Industry Experiencing Significant Pay Cuts As the country experiences an economic downturn across industries, employees in the Chinese financial sector have taken compensation cuts of as much as 40% in 2023, Bloomberg News reports .

“Employers have been laser-focused on ensuring equal pay for equal work — and there has been significant momentum and progress made by employers performing proactive pay analyses and complying with pay transparency legislation — but it’s not enough.”

-based employers announced 108,435 job cuts in January, an increase of 118% from the 49,795 cuts announced in January 2025 and a 205% increase from the 35,553 announced in December 2025, according to a report released Thursday, Feb. 5 , from global outplacement and executive coaching firm Challenger, Gray & Christmas.