US Job-Cut Plans Jump Due to AI and Tariffs, Challenger Data Show

Plans to reduce staff spiked in July to a level that was well above the average for the month since the pandemic, with technology firms leading sectors trimming their workforce, according to data from outplacement firm Challenger, Gray & Christmas.

US-based companies announced 62,075 job cuts this month, compared with almost 25,900 a year earlier. The 2025 number is the second-highest for a July in the past decade, only trailing 2020 at the height of the Covid-19 crisis, the report released Thursday showed.