Particle.news
Download on the App Store
3 ARTICLES
·
last wk.

U.S. Retail Layoffs Climb 274% in 2025 as Chains Announce Mass Closures

Trade tariffs, consumer pessimism, e-commerce dominance squeeze margins, triggering widespread staff reductions alongside hundreds of store closures

Shown is Walmart retail location in Philadelphia, Wednesday, June 4, 2025.
person with briefcase walking away

Overview

  • Retailers have announced 75,802 job cuts in the first five months of 2025, a 274 percent increase from the same period last year.
  • Macy’s plans to shutter 150 stores and CVS has unveiled closures at 270 locations, joining Joann’s liquidation of 800 outlets and cutbacks at JCPenney, Walgreens and Forever 21.
  • Challenger, Gray & Christmas attributes the surge in retail layoffs to President Trump’s tariffs, persistent economic pessimism and the growing shift to online shopping.
  • U.S. employers across all industries have disclosed 696,309 job cuts through May, an 80 percent jump from 2024, with services and government sectors also posting significant losses.
  • Despite massive workforce reductions, the national unemployment rate held at 4.2 percent and planned hires remain historically low compared with pre-pandemic levels.