United States companies have experienced tens of thousands of lost jobs in markets from Wall Street to the travel, tech and media industries, despite experts reporting a strong economy. The cause of numerous job cuts may relate to pandemic over-hiring or the need to reduce costs due to high interest rates. Surplus positions are eliminated to optimize the workforce when businesses restructure. Firms in declining industries, such as tobacco, manufacturing and apparel, trim to survive. Technological changes intended to improve company efficiency, including the investment of AI, are replacing human workers. International arenas that bring global rivalry create workforce reduction related to the changing market. In order to cut costs, in-house employees may oftentimes lose their jobs to outsourcing.