What is the technology articles?

US employers in the technology sector cut nearly nine times more jobs in May than in the first four months of the year, as rising inflation and slowing demand force companies to cut corners. Though overall layoffs in the country reported by global outplacement firm Challenger, Gray & Christmas on Thursday fell 14.7% in May from April, thanks to strong demand in the labor market, the technology sector cut 4,044 jobs, up from the 459 between January and April. It is the highest monthly total since December 2020 when tech companies cut as many as 5,253 jobs. Technology, startups that saw tremendous growth in 2020, particularly in the real estate, financial, and delivery sectors, are beginning to see a slowdown in users, and coupled with inflation and interest rate concerns, are restructuring their work forces to cut costs, said Andrew Challenger, senior vice president of challenger, Gray & Christmas. US tech layoffs and sector performance. The impact of the Ukraine crisis, a four-decade high inflation and rising interest rates has led to forecast cuts by companies such as Snap Inc and Microsoft, while others like Meta Platforms Inc have slowed hiring to rein in costs. Fintech companies also announced 268% more job cuts in May than in the first four months of 2022, the report from Challenger, Gray & Christmas said. However, the number of Americans filing new claims for unemployment benefits unexpectedly fell last week. Initial claims for state unemployment benefits fell 11,000 to a seasonally adjusted 200,000 for the week ended May 28, the Labor Department said on Thursday. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.) Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to "remain" committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed. Tech valuations have been whipsawed by rising interest rates, steep inflation and economic uncertainty—but not so much in enterprise software. Demand is holding steady as businesses continue to reorient themselves around cloud computing and data, CIOs say. Information-technology companies including International Business Machines Corp., Hewlett Packard Enterprise Co. and Oracle Corp. have shown resilience amid a rout in technology stocks. All three have so far outperformed declining market benchmarks since the start of the year. As of Wednesday, the tech-heavy Nasdaq Composite Index had fallen more than 23% since January. Over the same period, share prices for IBM, which sells cloud-based enterprise software and services, rose 4.3%. Prices for HPE, a business software firm spun off computer maker Hewlett Packard, have held roughly steady. On Wednesday, the company reported $6.7 billion in sales for the quarter ended April 30, up 1.5% year-over-year, with online software orders roughly doubling from the previous year