U.S. Layoffs Surge in May as 2025 Job Cuts Near Last Year’s Total

U.S. employers announced nearly 100,000 job cuts in May, up 47% from last year, according to Challenger, Gray & Christmas. Nearly 700,000 layoffs have been announced so far in 2025, already approaching the full-year total for 2024. The services, retail, nonprofit, and tech sectors led the losses, while government-related job cuts—largely tied to the Trump administration’s DOGE initiative—remain the largest source. Procter & Gamble also joined the trend, announcing plans to eliminate 7,000 white-collar roles over the next two years.