US based employers announced 80,666 job cuts in October of 2020, well below 118,804 in September, and the least since February. Still, the number is 60 percent higher than the 50,275 cuts in the same month last year. The majority of redundancies continue to come from Entertainment/Leisure companies (14,876), energy (11,787), transportation (11,475) as airlines grapple with reduced travel and lower revenue, and services (9,471). So far this year, a record 2,162,928 job cuts have been announced, an increase of 320 percent from the same period a year ago. “The bulk of the announcements this year are indeed in industries directly impacted by shutdown orders and consumers’ wariness to spend money in such places, like restaurants, hotels, bars, and brick-and-mortar retail. We’ve now seen tens of thousands of cuts in industries outside Entertainment and Retail, indicating the impact is spreading,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. source: Challenger, Gray and Christmas, Inc.

Challenger Job Cuts in the United States averaged 69031.06 Persons from 1994 until 2020, reaching an all time high of 671129 Persons in April of 2020 and a record low of 15100 Persons in June of 1997. This page provides the latest reported value for - United States Challenger Job Cuts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Challenger Job Cuts - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Challenger Job Cuts in the United States is expected to be 71000.00 Persons by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Challenger Job Cuts in the United States to stand at 45000.00 in 12 months time. In the long-term, the United States Challenger Job Cuts is projected to trend around 55000.00 Persons in 2021, according to our econometric models.

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United States Challenger Job Cuts

Actual Previous Highest Lowest Dates Unit Frequency
80666.00 118804.00 671129.00 15100.00 1994 - 2020 Persons Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-08-06 11:30 AM Jul 262.6K 170.219K 125K
2020-09-03 11:30 AM Aug 115.762K 262.649K 149K
2020-10-01 11:30 AM Sep 118.804K 115.762K 120K
2020-11-05 12:30 PM Oct 80.666K 118.804K 95K
2020-12-03 12:30 PM Nov 80.666K 79K
2021-01-07 12:30 PM Dec
2021-02-04 12:30 PM Jan
2021-03-04 12:30 PM Feb


News Stream
Companies in the US Cut the Least Jobs since February
US based employers announced 80,666 job cuts in October of 2020, well below 118,804 in September, and the least since February. Still, the number is 60 percent higher than the 50,275 cuts in the same month last year. The majority of redundancies continue to come from Entertainment/Leisure companies (14,876), energy (11,787), transportation (11,475) as airlines grapple with reduced travel and lower revenue, and services (9,471). So far this year, a record 2,162,928 job cuts have been announced, an increase of 320 percent from the same period a year ago. “The bulk of the announcements this year are indeed in industries directly impacted by shutdown orders and consumers’ wariness to spend money in such places, like restaurants, hotels, bars, and brick-and-mortar retail. We’ve now seen tens of thousands of cuts in industries outside Entertainment and Retail, indicating the impact is spreading,” said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc.
2020-11-05
US Companies Announce More Job Cuts in September
US-based employers announced 118.804 thousand jobs cuts in September of 2020, up 2.6 percent from August. Job cuts at bars, restaurants, hotels and amusement parks reached 32,099; the aerospace/defense industry announced 18,971 layoffs; and the transportation sector 16,628 cuts. Companies attributed the planned layoffs last month to market conditions, weak demand, restructuring and COVID-19. So far this year, total job cuts reached a record 2.082 million. Regarding hiring intention, companies announced 929,860 last month, bringing the total for 2020 to 2.673 million.
2020-10-01
US Companies Cut Near 116K Jobs in August
US-based employers announced 15,762 jobs cuts in August of 2020, down 56 percent from July. Still, it is the highest total for August month since 2002 as increasing number of companies that initially had temporary job cuts or furloughs are now making them permanent. The most jobs were lost in transportation (26,545) as airlines begin to make staffing decisions in the wake of decreased travel and uncertain federal intervention. This was followed by entertainment/Leisure companies, including bars, restaurants, hotels, and amusement parks, with 17,271 job cuts. Considering the first eight months of the year, US employers announced a record 1.963 million cuts. “Both companies and workers are grappling with increasing uncertainty due to stalled economic relief, the approaching election, and child care and education concerns. This is undoubtedly impacting talent management concerns,” said Challenger.
2020-09-03
US Employers Announce More than 260K Layoffs in July
Job cuts announced by US-based employers rose to 262.6 thousand in July 2020, up from 170.2 thousand in the previous month and 38.8 thousand in the same period last year. It was the third-highest level of layoffs on record due to a resurgence in COVID-19 infections. The reason cited for 77.1 thousand of the announced cuts is market conditions. COVID-19 caused 63.5 thousand cuts in July, followed by 60.8 thousand job cuts due to demand downturn, and 17.1 thousand cuts due to voluntary severance/buyouts. 2.0 thousand job cuts were attributed to bankruptcies. July’s cuts brought the yearly total so far to 1.85 million, up 212 percent from the 593 thousand cuts at this time last year. The current year-to-date total is 109.2 thousand cuts away from the 1.95 million cuts announced in 2001, the highest annual total on record. The majority of cuts continue to come from Entertainment/Leisure companies, followed by retailers, service providers and transportation.
2020-08-06

United States Challenger Job Cuts
Challenger Job-Cut Report provides information on the number of announced corporate layoffs by industry and region.