Challenger Reports June 2021 Job Cuts Down -87% from a Year Ago

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 announced by U.S.-based employers fell 16.7% in June to 20,476 from the 24,586 announced in May. Last month’s total is the lowest monthly total since June 2000, when 17,241 job cuts were recorded. So far this year, employers have announced plans to cut 212,661 jobs from their payrolls, down 87% from the 1,585,047 jobs eliminated through the same period last year. It is the lowest January-June total since 1995, when 212,299 job cuts were tracked in the first six months of the year. In a statement prepared for the release of the June report, Andrew Challenger, Senior Vice President of CG&C said, “We’re seeing the rubber band snap back. Companies are holding on tight to their workers during a time of record job openings and very high job seeker confidence. We haven’t seen job cuts this low since the Dot-Com boom.”

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Job Cuts Fall To Lowest Monthly Total In 21 Years; 20,476 Planned Cuts In June