US Job Cuts at 3-Month High

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US-based employers announced 85,979 job cuts in August 2025, up 39% from July and 13% higher than in the same month last year. It is also the highest level in three months and the highest for any August month since 2020, with pharmaceutical (19.1K), financial (18.1K) and tech (13K) leading the cuts. So far this year, companies have announced 892,362 job cuts, the highest YTD since 2020. It is up 66% from the 536,421 job cuts announced through the first eight months of last year and is up 17% from the 2024 full year total of 761,358. “After the impact of DOGE on the Federal Government, employers are citing economic and market factors as the driver of layoffs. We’ve also seen a spike in cuts due to operation or store closings and bankruptcies this year compared to last,” said Andrew Challenger, Senior Vice President and labor expert for Challenger, Gray & Christmas.

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