A surge in layoffs during the first half of 2025 has neared record-breaking pace, with March’s total alone the third-highest number of single-month layoffs in history, according to outplacement firm Challenger, Gray & Christmas. That total was eclipsed only by April and May 2020 during the pandemic.
The 696,309 layoffs announced through May of 2025 represent an increase of 80% over the first five months of last year and are just 65,000 short of matching 2024’s total layoff numbers.
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