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Job Cuts Drop 49% in June 2023, Lowest Total Since October 2022; Is the Tech Purge Over?
U.S.-based employers announced 40,709 cuts in June, down 49% from the 80,089 cuts announced in May. It is up 25% from the 32,517 announced in the same month one year prior, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc. Despite the drop, June’s total marks the sixth time this year when cuts were higher than the corresponding month a year earlier. Employers have announced 458,209 cuts so far this year, a 244% increase from the 133,211 cuts announced through June 2022. It is the highest first-half total since 2020, when ... (full story)