American employers announced 97,006 job cuts in May, a 16% jump from April’s 83,387 figure, according to outplacement firm Challenger, Gray & Christmas. The number represents the highest May total since 2020, and S&P 500 futures dropped on the release.
The numbers in context
April’s 83,387 cuts were themselves up 38% from March, though they were actually down 21% compared to the same month the prior year.
Year-to-date totals through April 2026 stood at 300,749. That’s roughly 50% below the same period in 2025.
No single company dominated the May headline figure. Instead, the cuts appear to be spread across multiple employers and sectors.
