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Challenger Job Cuts: Difference between revisions

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Challenger Job Cuts (view source)

Revision as of 18:46, 2 November 2023

838 bytes added ,  2 November 2023
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Line 313: Line 313:
|-
|-
!October
!October
|
|36,836
|33,843
|33,843
|-
|-
Line 325: Line 325:
|-
|-
!TOTAL
!TOTAL
|'''604,514'''
|'''641,350'''
|'''363,824'''
|'''363,824'''
|}
|}
Line 519: Line 519:
|0
|0
|1,115
|1,115
|#DIV/0!
|
|-
|-
|Media
|Media
Line 655: Line 655:
{| class="wikitable"
{| class="wikitable"
!
!
!Sep-23
!'''Sep-23'''
!YTD
|'''Oct-23'''
|'''YTD'''
|-
|-
|Market/Economic Conditions
|Market/Economic Conditions
|3,628
|3,628
|225,319
|243
|225,562
|-
|-
|Closing
|Closing
|19,462
|19,462
|94,515
|7,365
|101,880
|-
|-
|No Reason Provided
|No Reason Provided
|11,971
|11,971
|87,694
|9,650
|97,344
|-
|-
|Cost-Cutting
|Cost-Cutting
|1,305
|1,305
|59,553
|2,444
|61,997
|-
|-
|Restructuring
|Restructuring
|2,344
|2,344
|39,073
|10,553
|49,626
|-
|-
|Bankruptcy
|Bankruptcy
|102
|102
|
|31,651
|31,651
|-
|-
|Financial Loss
|Financial Loss
|136
|136
|12,656
|3,991
|16,641
|-
|-
|Demand Downturn
|Demand Downturn
|650
|650
|12,650
|725
|13,381
|-
|-
|Voluntary Severance/Buyouts
|Voluntary Severance/Buyouts
|1,336
|1,336
|11,568
|240
|11,808
|-
|-
|Contract Loss
|Contract Loss
|2,338
|2,338
|8,759
|676
|9,435
|-
|-
|Acquisition/Merger
|Acquisition/Merger
|171
|171
|6,872
|132
|7,004
|-
|-
|Artificial Intelligence
|Artificial Intelligence
|30
|30
|3,997
|100
|4,097
|-
|-
|Labor Dispute
|Labor Dispute
|3,200
|3,200
|3,310
|400
|3,710
|-
|-
|Outsourcing Operations Outside the US
|Outsourcing Operations Outside the US
|202
|202
|
|2,202
|2,202
|-
|-
|Outsourcing Operations to Another US Company
|Outsourcing Operations to Another US Company
|
|
|
|1,585
|1,585
Line 720: Line 736:
|Cyberattack
|Cyberattack
|
|
|750
|282
|883
|-
|-
|Relocation (Domestic)
|Relocation (Domestic)
|
|
|601
|
|750
|-
|-
|COVID-19
|COVID-19
|99
|99
|
|513
|513
|-
|-
|Looting/Violence
|Looting/Violence
|383
|383
|
|383
|383
|-
|-
|Consolidation
|Consolidation
|
|
|
|361
|361
|-
|-
|Natural Disaster
|Natural Disaster
|
|
|
|352
|352
Line 744: Line 766:
|Maui Fire
|Maui Fire
|100
|100
|100
|35
|135
|-
|-
|Supply Shortage
|Supply Shortage
|
|
|
|50
|50
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|'''TOTAL'''
|'''TOTAL'''
|'''47,457'''
|'''47,457'''
|'''604,514'''
|'''36,836'''
|'''641,350'''
|}
|}


=== October 2023 ===
=== October 2023 ===
U.S.-based employers announced 36,836 cuts in October, a 22% decrease from the 47,457 cuts announced one month prior. It is 9% higher than the 33,843 cuts announced in the same month last year. <blockquote>“Job cut plans have slowed significantly since the first half of the year, and consumers have continued to spend, even in the face of high inflation. Pandemic savings and higher wages have gotten many workers through economic uncertainty,” said Andy Challenger, labor expert and Senior Vice President of Challenger, Gray & Christmas, Inc.</blockquote>
U.S.-based employers announced 36,836 cuts in October, a 22% decrease from the 47,457 cuts announced one month prior. It is 9% higher than the 33,843 cuts announced in the same month last year.<ref>https://www.challengergray.com/blog/october-2023-job-cuts-fall-to-second-lowest-point-of-the-year-ytd-cuts-up-164-hiring-down-46-yoy/</ref> <blockquote>“Job cut plans have slowed significantly since the first half of the year, and consumers have continued to spend, even in the face of high inflation. Pandemic savings and higher wages have gotten many workers through economic uncertainty,” said Andy Challenger, labor expert and Senior Vice President of Challenger, Gray & Christmas, Inc.</blockquote>


* So far this year, employers have announced plans to cut 641,350 jobs, a 164% increase from the 243,338 cuts announced in the first ten months of 2022. This is the highest January-October total since 2020, when 2,162,928 cuts were announced. It is the second-highest total since 2009, when companies announced 1,192,187 job cuts.
* So far this year, employers have announced plans to cut 641,350 jobs, a 164% increase from the 243,338 cuts announced in the first ten months of 2022. This is the highest January-October total since 2020, when 2,162,928 cuts were announced. It is the second-highest total since 2009, when companies announced 1,192,187 job cuts.
* gh October, companies have announced plans to hire 759,935 workers, down 46% from the 1,400,468 new positions employers announced in the same period last year. This total includes the 573,300 seasonal positions Challenger has tracked in September and October of this year


* While Challenger will continue to add seasonal hiring announcements from companies, as of now, it is the lowest year for seasonal hiring announcements since 2013
* While Challenger will continue to add seasonal hiring announcements from companies, as of now, it is the lowest year for seasonal hiring announcements since 2013
Line 779: Line 805:
{| class="wikitable"
{| class="wikitable"
!Month  
!Month  
!2023
!'''2023'''
!2022
!'''2022'''
!2021
!'''2021'''
!2020
!'''2020'''
!2019
!'''2019'''
!2018
!'''2018'''
!2017
!'''2017'''
!2016
!'''2016'''
|'''2015'''
|-
|-
|January
|January
Line 797: Line 824:
|136,501
|136,501
|8,362
|8,362
|8,774
|-
|-
|February
|February
Line 807: Line 835:
|25,765
|25,765
|7,539
|7,539
|14,574
|-
|-
|March
|March
Line 817: Line 846:
|127,006
|127,006
|10,997
|10,997
|6,412
|-
|-
|April
|April
Line 827: Line 857:
|61,537
|61,537
|11,557
|11,557
|13,898
|-
|-
|May
|May
Line 837: Line 868:
|77,447
|77,447
|24,732
|24,732
|12,598
|-
|-
|June
|June
Line 847: Line 879:
|40,095
|40,095
|13,564
|13,564
|11,176
|-
|-
|July
|July
Line 857: Line 890:
|88,142
|88,142
|16,051
|16,051
|11,637
|-
|-
|August
|August
Line 867: Line 901:
|14,530
|14,530
|9,101
|9,101
|11,778
|-
|-
|September
|September
Line 877: Line 912:
|422,726
|422,726
|487,075
|487,075
|492,306
|-
|-
|October
|October
|
|35,202
|237,380
|237,380
|52,042
|52,042
Line 887: Line 923:
|37387
|37387
|135,532
|135,532
|86,107
|-
|-
|November
|November
Line 897: Line 934:
|61,300
|61,300
|108,994
|108,994
|10,026
|-
|-
|December
|December
Line 907: Line 945:
|8,218
|8,218
|35,198
|35,198
|11,465
|-
|-
|'''TOTAL'''
|'''TOTAL'''
|'''726,333'''
|'''761,535'''
|'''1,482,364'''
|'''1,482,364'''
|'''1,752,417'''
|'''1,752,417'''
Line 917: Line 956:
|'''1,100,654'''
|'''1,100,654'''
|'''868,702'''
|'''868,702'''
|'''690,751'''
|-
|-
|'''Monthly Average'''
|'''Monthly Average'''
|'''80,704'''
|'''76,154'''
|'''129,232'''
|'''140,047'''
|'''178,207'''
|'''165,591'''
|'''296,988'''
|'''292,809'''
|'''107,949'''
|'''116,238'''
|'''95,185'''
|'''98,701'''
|'''110,417'''
|'''103,114'''
|'''65,442'''
|'''72,451'''
|'''66,926'''
|-
|-
|'''YTD'''
|'''YTD'''
|  
|  
|'''1,163,088'''
|'''1,400,468'''
|'''1,603,864'''
|'''1,655,906'''
|'''2,672,893'''
|'''2,928,091'''
|'''971,540'''
|'''1,162,375'''
|'''856,669'''
|'''987,007'''
|'''993,749'''
|'''1,031,136'''
|'''588,978'''
|'''724,510'''
|'''669,260'''
|}
|}


Line 943: Line 985:
!INDUSTRY
!INDUSTRY
!23-Sep
!23-Sep
!YTD 2023            
!23-Oct
!YTD 2022
!YTD 2023
!YTD 2022
!Y/Y %
!Y/Y %
|-
|-
|Aerospace/Defense
|Aerospace/Defense
|3,820
|3,820
|10,830
|250
|12,207
|11,080
| -11.28%
|13,211
| -16%
|-
|-
|Apparel
|Apparel
|20
|20
|20
|432
|452
|1,973
|1,973
| -98.99%
| -77%
|-
|-
|Automotive
|Automotive
|1,378
|1,378
|12,266
|3,007
|30,986
|15,273
| -60.41%
|32,049
|  -52%
|-
|-
|Chemical
|Chemical
|225
|225
|
|1,175
|1,175
|469
|469
|150.53%
|151%
|-
|-
|Construction
|Construction
|808
|808
|6,568
|340
|7,370
|6,908
| -10.88%
|8,140
| -15%
|-
|-
|Consumer Products
|Consumer Products
|535
|535
|4,280
|3,155
|17,801
|7,435
| -75.96%
|18,760
|  -60%
|-
|-
|Education
|Education
|668
|668
|1,823
|120
|1,943
|8,342
|8,342
| -78.15%
| -77%
|-
|-
|Electronics
|Electronics
|50
|50
|744
|160
|904
|5,013
|5,013
| -85.16%
| -82%
|-
|-
|Energy
|Energy
|4,684
|4,684
|17,163
|3,517
|6,046
|20,680
|183.87%
|6,306
|228%
|-
|-
|Entertainment/Leisure
|Entertainment/Leisure
|282
|282
|20,294
|51
|114,385
|20,345
| -82.26%
|114,728
| -82%
|-
|-
|Financial
|Financial
|50
|50
|7,877
|100
|20,488
|7,977
| -61.55%
|20,841
| -62%
|-
|-
|FinTech
|FinTech
|
|
|
|50
|50
|4,398
|4,398
| -98.86%
| -99%
|-
|-
|Food
|Food
|465
|465
|4,809
|1,247
|28,703
|6,056
| -83.25%
|29,630
|  -80%
|-
|-
|Government
|Government
|30,048
|30,048
|34,111
|251
|93,571
|34,362
| -63.55%
|121,632
| -72%
|-
|-
|Health Care/Products
|Health Care/Products
|50
|50
|6,634
|71
|26,711
|6,705
| -75.16%
|26,811
| -75%
|-
|-
|Industrial Goods
|Industrial Goods
|634
|634
|7,358
|187
|18,829
|7,545
| -60.92%
|19,154
| -61%
|-
|-
|Insurance
|Insurance
|200
|200
|
|229
|229
|1,188
|1,188
| -80.72%
| -81%
|-
|-
|Legal
|Legal
|20
|20
|
|20
|20
|20
|20
|0.00%
|0%
|-
|-
|Media
|Media
|
|
|
|11
|11
|2,270
|2,270
| -99.52%
| -100%
|-
|-
|Mining
|Mining
|
|
|
|0
|0
|1,025
|1,025
| -100.00%
| -100%
|-
|-
|Non-Profit
|Non-Profit
|
|
|3,017
|120
|3,137
|13,830
|13,830
| -78.19%
| -77%
|-
|-
|Pharmaceutical
|Pharmaceutical
|
|
|3,350
|129
|5,085
|3,479
| -34.12%
|6,399
| -46%
|-
|-
|Real Estate
|Real Estate
|75
|75
|3,485
|9,293
|5,452
|12,778
| -36.08%
|5,536
| 131%
|-
|-
|Retail
|Retail
|438,420
|438,420
|440,868
|15
|524,013
|440,883
| -15.87%
|718,143
| -39%
|-
|-
|Services
|Services
|237
|237
|5,731
|312
|18,843
|6,043
| -69.59%
|21,105
| -71%
|-
|-
|Technology
|Technology
|3,000
|3,000
|18,706
|285
|46,219
|18,991
| -59.53%
|51,000
| -63%
|-
|-
|Telecommunications
|Telecommunications
|400
|400
|
|2,181
|2,181
|6,476
|6,476
| -66.32%
| -66%
|-
|-
|Transportation
|Transportation
|100,200
|100,200
|
|105,352
|105,352
|123,027
|123,082
| -14.37%
| -14%
|-
|-
|Utility
|Utility
|541
|541
|1,420
|60
|480
|1,480
|195.83%
|530
|179%
|-
|-
|Warehousing
|Warehousing
|3,543
|3,543
|5,961
|12,100
|17,868
|18,061
| -66.64%
|18,407
|  -2%
|-
|-
|'''TOTAL'''
|'''TOTAL'''
|'''590,353'''
|'''590,353'''
|'''726,333'''
|'''35,202'''
|'''1,163,088'''
|'''761,535'''
|'''-37.55%'''
|'''1,400,468'''
|'''-46%'''
|}
|}


== References ==
== References ==
Retrieved from "https://investmentwiki.mywikis.eu/wiki/Special:MobileDiff/9765"