Widget Image
Follow PPD Social Media
Connect With PPD
Tuesday, October 22, 2019
HomeNewsEconomyChallenger Job-Cut Report Declines for June, Q2 Down 26% from Q1

Challenger Job-Cut Report Declines for June, Q2 Down 26% from Q1

Closeup view of a business man cutting a piece of paper with the word jobs written on it, concept for job cut reports. (Photo: AdobeStock)
Closeup view of a business man cutting a piece of paper with the word jobs written on it, concept for job cut reports. (Photo: AdobeStock)
Closeup view of a business man cutting a piece of paper with the word jobs written on it, concept for job cut reports. (Photo: AdobeStock)

U.S.-based employers plan to cut 140,577 jobs in the second quarter (Q2) 2019, down 26% from the 190,410 cuts in Q1, according to the Challenger Job-Cut Report. The month of June — down to 41,977 from 58,577 in May — could signal an uptick in labor demand.

IndicatorPrior (May)Result (June)
Announced Layoffs58,577 41,977

“The second quarter is historically the slowest period for job cut plans. Companies typically have not determined staffing decisions by this point, either because they are in the middle of or are only approaching their fiscal year’s end by June,” said Andrew Challenger, Vice President of Challenger, Gray & Christmas, Inc.

Q2 2019 cuts are still 34% higher than the 104,800 job cuts announced in Q2 2018. The total is the highest Q2 since 2015, when 147,458 cuts were announced.

“Job cuts are trending higher overall. In addition to Retail, we’ve seen significant cuts in the Industrial Manufacturing and Automotive sectors in recent months,” said Challenger.

Written by
Staff Writing Group

People's Pundit Daily delivers reader-funded data journalism covering the latest news in politics, polls, elections, business, the economy and markets.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.