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U.S. employers announced 48,786 job cuts in June, which was down 23.6% from May, according to the monthly survey from Challenger, Gray & Christmas.
But June layoffs were up 19.8% from the year-ago period.
Job cuts saw the highest June level since 74,393 announced in 2009 (excluding the pandemic time).
“June is typically a low month for job cut announcements, as most companies are midyear or at the end of their fiscal years,” Andrew Challenger said in the release. “The months following fiscal year ends tend to have a spike in cuts, as those plans are implemented.”
“Over the last decade, job cuts have primarily been announced during the first half of the year. Prior to 2013, major announcements would bookend the year.”
Consumer Products Manufacturers saw the most layoffs at 5,311. That was followed by Technology at 4,647.
Tech companies have announced 59,854 cuts this year, down 58% from the 141,516 announced in H1 2023.