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Job Cuts Rise 5.5% Over Last Year; 38,792 in December 2024
The Challenger Report
Job Cuts Rise 5.5% Over Last Year; 38,792 in December 2024
Published January 9, 2025
U.S.-based employers announced 38,792 cuts in December, a 33% decrease from the 57,727 cuts announced one month prior. It is up 11% from the 34,817 cuts announced in the last month of 2023, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
In the final quarter of the year, companies announced plans to cut 152,116 jobs, down 13% from the 174,597 cuts announced in the third quarter of this year. It is up 30% from the 117,163 cuts announced in the same quarter of 2023.
In 2024, employers announced 761,358 job cuts, up 5.5% from 721,677 announced in 2023. It is the highest annual total since 2,304,755 cuts were announced in 2020. Except for 2020, it is the highest total since 2009, when employers planned 1,288,030.
Challenger, Gray & Christmas, Inc. ©
{snip}
Job Cuts Rise 5.5% Over Last Year; 38,792 in December 2024
Published January 9, 2025
U.S.-based employers announced 38,792 cuts in December, a 33% decrease from the 57,727 cuts announced one month prior. It is up 11% from the 34,817 cuts announced in the last month of 2023, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
In the final quarter of the year, companies announced plans to cut 152,116 jobs, down 13% from the 174,597 cuts announced in the third quarter of this year. It is up 30% from the 117,163 cuts announced in the same quarter of 2023.
In 2024, employers announced 761,358 job cuts, up 5.5% from 721,677 announced in 2023. It is the highest annual total since 2,304,755 cuts were announced in 2020. Except for 2020, it is the highest total since 2009, when employers planned 1,288,030.
Challenger, Gray & Christmas, Inc. ©
{snip}