Challenger Job-Cut Report – Planned Job Cuts Rose 3.3% in January 2021

According to the latest released Job- Cut Report from Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, U.S. based companies announced planned job cuts rose 3.3%, to 79,552, in January 2021 from 77,030 in December 2020. January’s total is 17.4% higher than the 67,735 cuts announced in January 2020. It is the highest January total since 2009, when 241,749 cuts were announced. In comments prepared for the release of the report, Andrew Challenger, Senior Vice President of CG&C said, “While cuts were higher than average last month, we are seeing a leveling off of announcements, which may bode well for recovery in the coming months. Companies may be reassessing their staffing levels and waiting on the impact of the relief bill before making any additional workforce decisions.”