Store closures lead to massive 274% spike in retail layoffs in first half of 2025
Source: The Independent
Tuesday 10 June 2025 13:21 EDT
Store closures in the U.S. have led to a huge 274% spike in retail layoffs so far this year, a new report says. In the first five months of 2025, retailers announced 75,082 job cuts compared to 20,276 during the same period the year before, according to business and executive coaching firm, Challenger, Gray & Christmas Inc. The figures include major job losses at retail giants like Macy’s, which is set to close 150 stores across the U.S. after sales dropped by a staggering $21.3 billion.
Some 66 of the closures were confirmed in January. Macy’s is one of America’s most familiar brands but in total will be shuttering around one-third of its underperforming locations by the end of 2026. Earlier this year, fabric and crafts retailer Joann announced it was going out of business, following bankruptcy, and was forced to shut down all 800 of its stores. The Ohio-based retailer had been a destination for generations of quilters, knitters, and lovers of craft projects for 80 years.
And pharmacy giant CVS recently announced plans to close 270 stores nationwide in 2025. A spokesperson for the brand said several factors went into the decisions to close the locations, including “population shifts and consumer buying patterns.” JCPenney, Forever 21 and Walgreens are among the other high-profile chains that have announced store closures in 2025.
Retail is the second-leading industry to suffer job cuts this year, behind the federal government, which has seen over 270,000 jobs slashed, thanks to Elon Musk’s Department of Government Efficiency.
Read more: https://www.the-independent.com/news/world/americas/store-closures-retail-layoffs-economy-b2767340.html
Link to REPORT (PDF) - https://omscgcinc.wpenginepowered.com/wp-content/uploads/2025/06/Challenger-Report-May-2025.pdf
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They approve en masse. Decades of saying, "F6ck You!!!" to workers. 
