Umoja-Mataifa - Mpinzani Ayubu Cuts

US-based employers announced plans to cut 44,569 jobs from their payrolls in November of 2019, down 11 percent from the 50,275 cuts announced in October and 16 percent less than 53,073 a year earlier. November cuts were led by the technology sector, which announced 7,292 cuts. Health Care companies, including hospitals and medical products manufacturers, announced the second-highest total in November, with 6,247. Considering the January-November period, employers have announced plans to cut 559,713 jobs from their payrolls, 13.1 percent higher than the 494,775 cuts announced through November last year. It is the highest January-November total since 2015. Retail continues to lead all sectors in 2019 with 74,686 cuts, followed by industrial goods (68,141) and technology (63,447). "The Tech sector is undergoing major changes due to an evolving landscape. New technologies are changing the way people work and often make workplaces more efficient” said Challenger.

US-based employers announced plans to cut 50,275 jobs from their payrolls in October 2019, down 33.5 percent from the 75,644 cuts announced in the same month last year. The technology sector led all sectors with 15,898 announced cuts, bringing the year-to-date total to 56,155, the third-highest total for any industry through October. Health care companies announced 5,400 cuts while retail announced 6,127. So far this year, employers have announced plans to cut 515,441 jobs from their payrolls, 16.6 percent higher than the same period last year. It is the highest January-October total since 2015.

US-based employers announced plans to cut 41,557 jobs from their payrolls in September 2019, down 24.8 percent from the 55,285 cuts announced in the same month last year. Retail led all sectors with 8,132 announced cuts, bringing the year-to-date total to 65,358. That is 23.5% lower than the 85,385 cuts announced in this sector during the same period last year. Industrial Goods manufacturers followed with 5,067 cuts in September, 2,261 of which were from steel manufacturers, and automotive companies announced 4,912 job cuts last month. So far this year, employers have announced plans to cut 464,869 jobs from their payrolls, 27.9 percent higher than the 366,058 cuts announced in the same nine months last year. It is the highest January-September total since 2015, when 493,431 cuts were announced.

US-based employers announced plans to cut 53,480 jobs from their payrolls in August 2019, up 39 percent from 38,472 in the corresponding month of the previous year. Technology led all sectors in August, with 15,355 announced cuts, including 488 cuts from Cisco. The Government, both state and federal, announced 5,785 cuts and health care companies announced 5,040. Meanwhile, industrial goods manufacturing announced 3,822 cuts, transportation companies 3,554, and food companies 3,010. So far this year, employers have announced plans to cut 423,312 jobs from their payrolls, a 36.2 percent rise from the 310,773 cuts in the first eight months of 2018. It is the highest eight-month total since 2015, when 434,554 cuts were announced.

US-based employers announced plans to cut 38,845 jobs from their payrolls in July 2019, up 43.2 percent from 27,122 in the same month last year. Transportation led all sectors in July, with 5,532 announced cuts, followed by industrial goods manufacturing, which announced 4,403 cuts last month. The energy sector announced 3,737 job cuts in July, while pharmaceutical companies announced 3,062. The overall manufacturing sector saw over 1,000 cuts announced due to the impact of tariffs. So far this year, employers have announced plans to cut 369,832 jobs, a 35.8 percent increase from the 272,301 cuts announced in the first seven months of last year. It is the highest seven-month total since 2015, when 393,368 cuts were announced.

US-based employers announced plans to cut 41,977 jobs from their payrolls in June 2019, 13 percent higher than the 37,202 cuts announced last year. That was the eleventh consecutive month of annual increases. So far this year, employers have announced plans to cut 330,987 jobs, a 35 percent increase from the 245,179 cuts announced through the first half of last year. This year marks the highest first-half total since 2009, when 896,675 job cuts were announced. The biggest job cuts were announced in the Industrial Goods sector (up 562 percent to 47,651), followed by Automotive makers and suppliers (up 190 percent to 32,350), Technology sector (up 266 percent to 21,777) and Energy sector (up 185 percent to 14,527).