Job cuts announced by U.S.-based employers in August totaled 115,762,
116% higher than the August 2019 total of 53,480, according to a
monthly report released Thursday by global outplacement and business and
executive coaching firm Challenger, Gray & Christmas, Inc.
August’s total is 56% lower than the 262,649 job cuts announced in
July. It is the highest total in August since 2002, when 118,067 job
cuts were announced. So far this year, employers have announced
1,963,458 cuts, 231% higher than the 592,556 cuts tracked in
January-August of 2019.
Announced job cuts in 2020 have surpassed the
previous record annual total of 1,956,876 recorded in 2001.
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