U.S. employers announced 47,999 job cuts in June, down sharply from the 93,816 reductions recorded in May, according to data released by outplacement firm Challenger on Wednesday. The June total was 1.6% lower than a year earlier, marking a reversal from May’s 47% year-over-year surge. Despite the monthly pullback, companies have disclosed 744,308 layoffs so far in 2025, the highest first-half tally since the pandemic-driven cuts of 2020. Challenger said retail job-cut announcements have climbed 255% this year, while technology layoffs are up 27%, underscoring continued pressure in consumer-facing and tech sectors even as overall monthly cuts ease.