Pharma and Finance Lead As August 2025 Job Cuts Rise 39% To 85,979

Source: Challenger, Gray & Christmas

Published September 4, 2025
U.S.-based employers announced 85,979 job cuts in August, up 39% from the 62,075 announced in July. It is up 13% from the 75,891 announced in the same month last year, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas.

August's total was the highest for the month since 2020 when 115,762 job cuts were recorded. After 2020, it is the highest August total since the thick of the Great Recession in 2008, when 88,736 cuts were announced. August marks the sixth time this year that the job cut total surpassed that of the corresponding month one year prior.

So far this year, companies have announced 892,362 job cuts, the highest YTD since 2020 when 1,963,458 were announced. It is up 66% from the 536,421 job cuts announced through the first eight months of last year and is up 17% from the 2024 full year total of 761,358.

"After the impact of DOGE on the Federal Government, employers are citing economic and market factors as the driver of layoffs. We've also seen a spike in cuts due to operation or store closings and bankruptcies this year compared to last," said Andrew Challenger, Senior Vice President and labor expert for Challenger, Gray & Christmas.

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