, have publicly said they’ll reduce their workforces this year to cut spending but haven’t disclosed specifics.In August, U.S.-based employers announced 75,151 job cuts — a 217% increase from the month before and 267% higher than in the same month in 2022, according to tracking by Chicago outplacement firm Challenger, Gray & Christmas Inc.
Technology sector job cuts lead all industries this year with over 150,000 positions eliminated. Retailers , health care and financial firms are the next hardest-hit industries.“Health care, particularly hospitals, are undergoing a lot of turmoil with staffing and trying to remain profitable while delivering high levels of care,” Challenger said.
He expects professional and business services to account for nearly 20% of new jobs, with those workers providing legal, accounting, architectural, engineering, design, computer and consulting services to companies.