The job market's taking a serious hit this year. Over a million people have lost their positions across various industries, according to fresh data from a consulting firm that dropped Thursday.

What's driving this wave? Three big culprits: corporate restructuring efforts, the rapid advancement of artificial intelligence replacing human roles, and economic pressures—especially those tariff-related headwinds that keep piling up.

The AI factor is particularly interesting here. We're not just talking about theoretical automation anymore. Real jobs, real people, real impact. Companies are leaning hard into tech solutions as cost-cutting measures, and the numbers reflect that shift.

Tariffs aren't helping either. Trade tensions continue squeezing margins, forcing businesses to make tough calls on workforce sizing. When revenues shrink, headcount often follows.