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 Wednesday 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 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.
The Media industry has announced 4,752 cuts so far in 2025, down 46% from the 8,750 cuts announced in the first five months of last year. News, which Challenger tracks as a subset of Media and includes broadcast, digital, and print, has announced 1,139 job cuts so far this year, down 52% from the 2,397 cuts announced during the same period last year.
Through June 2025, U.S. employers have announced 82,932 planned hires, a 19% increase over the 69,920 announced at this point in 2024. While this represents growth, hiring activity remains historically low, particularly when compared to the surge in hiring during the post-pandemic recovery years.
“Hiring announcements are up from last year, which is encouraging. Employers are hiring more cautiously in 2025, likely in response to economic uncertainty and continued cost pressures,” said Challenger.
