Newsweek - U.S. layoffs surged in July to their highest level since the early months of the COVID-19 pandemic. In July, there were 62,075 job cuts announced, according to a report by outplacement firm Challenger, Gray & Christmas. That's a 29 percent jump from June and 140 percent higher than the 25,885 announced in July 2024.
The July figure is well above the post-pandemic average for the month ... It's the highest January-to-July figure since 2020, when pandemic shutdowns drove layoffs above 1.8 million.
The surge in layoffs in 2025 is due to a mix of government downsizing, corporate restructuring and the growing effects of artificial intelligence.
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