December Job Cuts Lowest Since July 2018, YTD Up 10% on Retail, Industrial, Auto, Tech

Job cuts announced by U.S.-based employers fell for the second consecutive month, to 32,843, the lowest monthly total since 27,122 cuts were announced in July 2018, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.

Last month’s total is 26.3% lower than the 44,569 cuts announced in November and 25.2% lower than the 43,884 announced in the same month last year.

Employers announced plans to cut 592,556 jobs from their payrolls in 2019, 10% higher than the 538,695 cuts announced in 2018. It is the highest annual total since 2015, when 598,510 cuts were announced. 2019 was the fourth-highest year for job cut announcements this decade.

Year Annual Total
2009 1,288,030
2011 606,082
2015 598,510
2019 592,556
2018 538,659
2010 529,973
2016 526,915
2012 523,362
2013 509,051
2014 483,171
2017 418,770
Source: Challenger, Gray & Christmas, Inc. ©

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