U.S. employers announced 62,075 job cuts in July, a 29% increase from June and roughly 140% higher than the same month last year, according to outplacement firm Challenger, Gray & Christmas. The technology industry led July reductions with more than 13,000 planned layoffs, while cuts also rose in autos, construction and warehousing. The latest figure brings announced layoffs for 2025 to 806,383, already exceeding the full-year total recorded for 2024 and marking the largest January-to-July tally since 2020. Retail dismissals are up 255% so far this year, and overall second-quarter cuts reached 247,256, the highest for any second quarter since the pandemic era. Challenger previously reported 744,308 layoffs in the first half of 2025, underscoring a steady pickup in corporate cost-cutting despite still-solid consumer demand and low unemployment. The firm said it expects further announcements as companies grapple with higher borrowing costs and lingering uncertainty over trade policy and election-year economic conditions.