The number of job cuts in the US decreased in June, according to a monthly survey from Challenger, Gray & Christmas. U.S. employers announced 48,786 job cuts in June, down 23.6% from May, but up 19.8% from the year-ago period. This is the highest June level since 2009, excluding the pandemic time. The Consumer Products Manufacturers industry saw the most layoffs at 5,311, followed by the Technology industry at 4,647. Tech companies have announced 59,854 cuts this year, which is down 58% from the first half of 2023 [5db60084].
Despite the decline in job cuts in June, the number of layoffs in the tech industry remains significant. The tech industry has been hit hard by layoffs, with over 59,000 cuts announced this year. However, this number is down 58% from the first half of 2023, indicating a slight improvement. The Consumer Products Manufacturers industry also experienced a high number of layoffs in June, with over 5,000 job cuts. These numbers reflect the ongoing challenges faced by workers in various industries amidst economic uncertainty [5db60084].
The tech industry has been particularly affected by job cuts in recent years. Tech companies have announced a significant number of layoffs, with over 59,000 cuts announced this year alone. This is a decrease of 58% compared to the first half of 2023. The Consumer Products Manufacturers industry also saw a high number of layoffs in June, with over 5,000 job cuts. These numbers highlight the ongoing challenges faced by workers in the US job market [5db60084].