Overview

• Employers announced almost 100,000 job cuts in May 2025, a 47% increase over the same month last year.
• Services-sector layoffs surpassed 22,000 in May, marking the worst month for that category since May 2020.
• Tech firms shed over 62,000 roles across 284 companies in the first five months of 2025, including more than 16,000 cuts in May alone.
• Major tech players have restructured aggressively, with Microsoft eliminating around 6,000 positions to flatten management and prioritize engineering, Google trimming hundreds in core divisions, and Intel planning to cut one-fifth of its workforce.
• Non-tech industries from retail to energy and nonprofits have also rolled out major layoffs, including Chevron’s 8,000 cuts and a more than fivefold surge in nonprofit workforce reductions.