A report showed that job cuts in January were the highest in two years, as the tech sector consisted of the largest portion of layoffs.

Closing Bell

Reports: Layoffs In January Hit Two-Year High 

While tech companies getting rewarded today for future expectations of improving performance like meta, a new data showing that the sector led layoffs in january as lost jobs surged to their highest level in two years. More than 100,000 workers lose their positions in january. That's a more than two fold spike from december according to the employment from Challenger Gray and christmas. And as we've been covering here on closing bell, the job cuts come as companies scale back amid slowing growth and expectations of a possible recession in january alone. Tech giants Microsoft, amazon google's parent company alphabet shedding 40,000 jobs spike in layoffs last month was across industries. Those other large firms like big Bank Goldman Sachs and industrial giant three M. They are shedding workers too on january jobs report hitting tomorrow morning. It will give us an indication as to the broader health of the labor market. And even amid cutbacks, economists still anticipating the economy, added jobs on net in january to the tune of 100 and 85,000. So bring the full coverage of the january jobs report and the market reaction tomorrow