Overview

• Employers announced 85,979 job cuts in August, up 39% from July and the highest August reading since 2020.
• The year-to-date total is up 66% from a year earlier and has already surpassed all of 2024, according to Challenger, Gray & Christmas.
• The Trump administration’s Department of Government Efficiency was the largest driver of federal downsizing, with Washington, D.C. tallying 294,696 cuts after a threefold jump.
• California recorded 135,241 cuts this year, up 24%, while tech firms announced 102,239 cuts, a 3% decline from last year.
• Artificial intelligence was cited in 10,375 cuts and broader technological updates in 20,219, as retailers also pointed to tariffs, inflation, store closures and bankruptcies.