PUBLISHED JANUARY 5, 2023: U.S.-based employers announced 43,651 cuts in December, falling 43% from the 76,835 announced in November. It is up 129% from the 19,052 cuts announced in the same month in 2021, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
December’s total is the second-highest number of monthly job cuts announced in 2022 and marks the eighth time last year when cuts were higher than the corresponding month a year earlier.
In the fourth quarter, employers announced 154,329 job cuts, the highest quarterly total since the final quarter of 2020, when 222,493 job cut announcements occurred. It is 172% higher than the 56,749 cuts announced in the last quarter of 2021 and 102% higher than the 76,284 cuts announced in the previous quarter.