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🚨US layoffs remain at crisis levels: US job cut announcements rose to 761,358 in 2024, the highest since the 2020 CRISIS, according to Challenger data. Excluding 2020, this was the biggest number since 2009, the Great Financial Crisis. Expect more job data revisions this year https://t.co/2PKJAhwynW
#JobCuts continue to be on a rise in 2025. Latest reports suggest that major #companies like #Microsoft, #BlackRock, #Ally and many other continues to #sack significant amount of #employees.
⚠️BRACE FOR MORE US JOB MARKET DATA REVISIONS⚠️ Nonfarm payrolls will likely be revised DOWN by another ~300,000 jobs for 2Q 2024, according to the QCEW data released by the BLS. If this trend continues, August and October will be revised to NEGATIVE.👇 https://t.co/vzrt2sKCkC
In early 2025, several major U.S. firms, including Microsoft, BlackRock, and the Washington Post, have announced layoffs as part of a broader trend in the job market. The real estate sector has also seen job cuts, with companies such as Redfin and Zillow laying off employees. Ally Financial has not only reduced its workforce but has also announced plans to exit the mortgage origination business. According to Challenger data, U.S. job cut announcements reached 761,358 in 2024, marking the highest level since the 2020 crisis and the largest number since 2009, excluding that year. The U.S. job market may face further revisions, with nonfarm payrolls expected to be revised down by approximately 300,000 jobs for the second quarter of 2024, indicating a potential negative trend for August and October.