Retailer Pier 1 Imports announced it would close all remaining 540 stores and try to find a buyer for its online business. It follows bankruptcy announcements from JC Penney, J. Crew, and Neiman Marcus.
Job cuts announced by U.S.-based employers surged 292% from February’s total of 56,660 to 222,288 in March. March was the first month to report job cut announcements specifically due to the COVID-19 pandemic, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
Global outplacement and executive and business coaching firm Challenger, Gray & Christmas, Inc. has tracked over 9,000 job cut announcements due to the COVID-19 outbreak. These are confirmed cuts from individual companies. Challenger tracks job cut announcements using media reports, company announcements, state WARN reports, and SEC filings.
Job Cut Announcements Due to COVID-19 Begin. Through the morning of March 12th, U.S.-companies have announced 633 job cuts specifically tied to the outbreak of novel coronavirus, according to tracking from global outplacement and executive and business coaching Challenger, Gray & Christmas, Inc.
Job cuts announced by U.S.-based employers jumped 106%, from December’s total of 32,843 to 67,735, the highest monthly total since February 2019, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
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.
Job cuts announced by U.S.-based employers fell to 44,569 in November, 11.3% lower than the 50,275 cuts announced in October, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.