U.S.: Jobs Market Crashes
Bloomberg reports:
US companies announced the largest number of job cuts for any January since the depths of the Great Recession in 2009, according to data from outplacement firm Challenger, Gray & Christmas.
Companies last month announced 108,435 job cuts, a 118% increase from a year earlier. The report on Thursday also showed hiring intentions slid 13% from a year earlier to 5,306—marking the weakest total for any January in the firm’s records back 17 years.
“Generally, we see a high number of job cuts in the first quarter, but this is a high total for January,” said Andy Challenger, the company’s chief revenue officer. “It means most of these plans were set at the end of 2025, signaling employers are less-than-optimistic about the outlook for 2026.”
Almost half of the job cuts announced in January were tied to three companies—Amazon, United Parcel Service, and Dow.