U.S. job-cut announcements rise 7% in May: Challenger

U.S. job cut announcements rose 7% in May to 24,586, though they’re down 94% from May 2020 levels, according to global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc. In 2021, employers have announced plans to cut 192,185 jobs from their payrolls, down 86% from the 1,41 million eliminated through the same period last year. Health Care/Products led all industries in cuts in May with 2,775, followed by Education with 2,617, the report said.

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