July 2020

Survey: 30% of Companies Cut Pay in Response to COVID-19; Major Companies Already Reinstitute Pay After Cuts

Thirty percent of employers chose to cut pay in response to the COVID-19 pandemic. Of those, more than half (55%) reported the cuts allowed them to avoid layoffs, according to a new survey released Thursday by global outplacement and executive and business coaching firm Challenger, Gray & Christmas, Inc.

June 2020 Job Cuts Report: Employers Announce 1.2M Job Cuts in Q2; Market Conditions Increasingly Blamed for Cuts

Job cuts announced by U.S.-based employers hit 1,238,364 in the second quarter, the highest quarterly total on record, according to a monthly report released Thursday by global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.