September Job Cuts Fall 22%; YTD Up 27%
Job cuts announced by U.S.-based employers fell to 41,557 in September, 22.3% lower than the 53,480 announced in August. This is the second lowest monthly total in 2019, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
Last month’s total is 24.8% lower than the 55,285 cuts announced in the same month last year. It is the lowest monthly total since April, when 40,023 cuts were announced.
Despite the drop, so far this year, employers have announced plans to cut 464,869 jobs from their payrolls, 26.9% higher than the 366,058 cuts announced in the same nine months last year. It is the highest January-September total since 2015, when 493,431 cuts were announced.