Challenger Job Report - September 2020 Job Cut Total is 186% Higher Than September 2019

Job cuts announced by U.S.-based employers jumped to 118,804 in September, up 2.6% from August’s total of 115,762, according to a monthly report released Thursday by global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.

September’s total is 186% higher than the 41,557 job cuts announced in September 2019.

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Original Article

“Businesses face existential threats all the time. They are built to make decisions that will determine the life or death of the company,” said Andrew Challenger, senior vice president of the staffing firm Challenger, Gray & Christmas. “Choices that affect the life or death of their employees now need to be made for the first time. The stakes have never been higher.”