Summer Lull In June 2025 As Companies Announce Virtually The Same Number Of Cuts As Last Year; Highest Q2, YTD ... [View all]
Source: Challenger, Gray & Christmas
Jul 02 Summer Lull In June 2025 As Companies Announce Virtually The Same Number Of Cuts As Last Year; Highest Q2, YTD Cuts Since 2020
Published July 2, 2025
U.S.-based employers announced 47,999 job cuts in June, down 49% from May's 93,816. It is down 2% from 48,786 announced in the same month last year, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas.
The second quarter saw 247,256 job cuts, the highest Q2 total since 1,238,364 cuts announced in 2020. It is up 39% from the 177,391 cuts announced during the second quarter last year. It is down 50% from the 497,052 cuts announced in Q1.
The Challenger Report Announced Job Cuts January 2020-June 2025
"The bulk of companies cited economic conditions last month. We saw some DOGE activity and have tracked over 2,000 jobs directly attributed to tariffs this year, but for the most part it was a quiet June," said Andrew Challenger, Senior Vice President and labor expert for Challenger, Gray & Christmas.
So far this year, companies have announced 744,308 job cuts, the highest YTD since 2020 when 1,585,047 were announced. Outside of 2020, it is the highest YTD since 896,675 cuts were announced in the first six months of 2009.
WHICH INDUSTRIES ARE CUTTING THE MOST IN 2025?
GOVERNMENT
In June, the Government cut 3,801 jobs, up 46% from 2,600 in May. For the year, this sector has cut 288,628 jobs in 2025, primarily in the Federal Government, and many of which are in legal limbo.
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Read more: https://www.challengergray.com/blog/june-2025-companies-announce-virtually-the-same-number-of-cuts-as-last-year-highest-q2-ytd-cuts-since-2020/
The Challenger Gray report, which we always seem to miss, came out this morning too. Just like the ADP Employment Report, it usually comes out on the first Wednesday of the month.
I don't think it shows up on my economic calendar.
BIG NOTE: The BLS employment report comes out a day early this month, on Thursday, due to the Fourth of July holiday, which will be observed by the few remaining federal employees.
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