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May 2022 Challenger Report: Job Cuts Fall Overall, But Explode in Tech, Fintech, Construction
U.S.-based employers announced 20,712 cuts in May, a 14.7% decrease from the 24,286 announced in April. It is 15.8% lower than the 24,586 cuts announced in May of 2021, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc. So far this year, employers announced plans to cut 100,694 job cuts, down 48% from the 192,185 cuts announced through the same period in 2021. It is the lowest recorded January-May total since Challenger began tracking monthly job cut announcements in 1993*. Despite the drop in job cuts, of the 30 industries ... (full story)