Summer Lull In June 2025 As Companies Announce Virtually The Same Number Of Cuts As Last Year; Highest Q2, YTD ...

[mahatmakanejeeves]

Source: Challenger, Gray & Christmas

Jul 02 Summer Lull In June 2025 As Companies Announce Virtually The Same Number Of Cuts As Last Year; Highest Q2, YTD Cuts Since 2020

Published July 2, 2025
U.S.-based employers announced 47,999 job cuts in June, down 49% from May's 93,816. It is down 2% from 48,786 announced in the same month last year, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas.

The second quarter saw 247,256 job cuts, the highest Q2 total since 1,238,364 cuts announced in 2020. It is up 39% from the 177,391 cuts announced during the second quarter last year. It is down 50% from the 497,052 cuts announced in Q1.

The Challenger Report Announced Job Cuts January 2020-June 2025
"The bulk of companies cited economic conditions last month. We saw some DOGE activity and have tracked over 2,000 jobs directly attributed to tariffs this year, but for the most part it was a quiet June," said Andrew Challenger, Senior Vice President and labor expert for Challenger, Gray & Christmas.
So far this year, companies have announced 744,308 job cuts, the highest YTD since 2020 when 1,585,047 were announced. Outside of 2020, it is the highest YTD since 896,675 cuts were announced in the first six months of 2009.

WHICH INDUSTRIES ARE CUTTING THE MOST IN 2025?
GOVERNMENT
In June, the Government cut 3,801 jobs, up 46% from 2,600 in May. For the year, this sector has cut 288,628 jobs in 2025, primarily in the Federal Government, and many of which are in legal limbo.

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Read more: https://www.challengergray.com/blog/june-2025-companies-announce-virtually-the-same-number-of-cuts-as-last-year-highest-q2-ytd-cuts-since-2020/

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The Challenger Gray report, which we always seem to miss, came out this morning too. Just like the ADP Employment Report, it usually comes out on the first Wednesday of the month.

I don't think it shows up on my economic calendar.

BIG NOTE: The BLS employment report comes out a day early this month, on Thursday, due to the Fourth of July holiday, which will be observed by the few remaining federal employees.

[Bernardo de La Paz]

1. ADP reported job cuts instead of job growth, 45 minutes later, if I'm understanding it.

Last month growth was 29K, down from what I think is average or normal around 95k. The report I'm seeing is -33K in red, which seems a little alarming to me.

[Cheezoholic]

3. I agree. If I'm understanding this correctly, the 2nd quarter job loss in 2020, was the worst since the Depression

At least I recall that the initial job loss during 2nd Quarter of 2020, when Covid shut us down was. (I'm not good with economics but could be wrong lol).

So if this 2nd Quarter loss was the worse since 2nd Quarter in 2020 it is effectively the 2nd worse 2nd Quarter job loss since the Depression?

And if that's correct, as alarming as it should be, the MSM is doing nothing but talkin about Diddy.

It's no wonder the spoon fed public is ignorant.

[Bernardo de La Paz]

4. I don't think 33,000 jobs lost in 2025 compares to tens of millions of jobs lost in 2020

33,000 out of 138,000,000 is only 0.02 percent.

What is so alarming about the drop in June is not the magnitude of the drop (small) but that it is an abrupt change in direction from the steady rate of job creation in preceding months.

[Cheezoholic]

5. Got it. Misunderstood the number. Like I said, I can barely balance a check book lol. Thanx!! n/t

[Bernardo de La Paz]

2. Microsoft announced laying off 9,000 employees, after laying off 6,000 earlier this year. . . . .nt