US Challenger Job Cuts Rise To 33,429

Challenger, Gray & Christmas reported U.S. announced layoffs fell to 33,429 in July, down 27% month-on-month and 46% year-on-year — the lowest monthly total in two years and the lowest since July 2024, when 25,885 cuts were announced. Through July employers have disclosed 477,033 layoffs, a 41% decline versus the first seven months of 2025; this is the fifth month this year with fewer cuts than the prior year. Layoffs remain concentrated in tech, with AI cited as the top reason for cuts for a fifth consecutive month. Andy Challenger, the firm's chief revenue officer, said hiring plans are up 25% year-on-year and that AI is reshaping workforces but has not undermined overall employment.