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CONTACT Colleen Madden Blumenfeld, Director of Public Relations
Office: 312-422-5074
Mobile: 314-807-1568
FOR RELEASE AT 7:30 A.M. ET, THURSDAY, DECEMBER 3, 2020
JOB CUTS FALL FOR THE SECOND CONSECUTIVE MONTH; 64,797 IN
NOVEMBER, UP 45% FROM SAME MONTH LAST YEAR
CHICAGO, December 3, 2020 – In the penultimate month of the year, U.S.-based employers
announced 64,797 job cuts, the second-lowest monthly total for 2020. It is 19.7% lower than
the 80,666 job cuts announced in October, according to a report released Thursday by global
outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
November’s total is 45.4% higher than the 44,569 cuts announced in November of last year. So
far this year, 2,227,725 job cuts have been announced, 298% higher than the 559,713 cuts
announced through November 2019. It is the highest annual total on record.
“News of a coming vaccine and clarity surrounding election results have sent markets soaring
and given companies some stability as we end the year,” said Andrew Challenger, Senior Vice
President of Challenger, Gray & Christmas, Inc.
“That said, disposable income decreased over $130 billion in October, according to the Bureau
of Economic Analysis. Undoubtedly, the millions of Americans who remain out of work will
have an impact on spending, which will lead to further cuts,” he added.
The majority of cuts last month came from Entertainment/Leisure companies, which
announced 11,666 cuts. This sector leads all industries this year with 857,620, up 5,860% from
the 14,389 announced in the same period last year.
Technology companies followed with 11,431 cuts, bringing the year-to-date total to 77,826,
22.7% more than the 63,447 cuts announced in the sector last year.
mailto:[email protected]
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Transportation companies announced the third-highest total for the month with 10,455 cuts,
for a total of 170,129 cuts in the first eleven months of 2020. This is a 543% increase from the
26,445 announced in the same period last year.
“Not only are airlines having trouble with decreased travelers, but local transportation
authorities are feeling the loss of ridership this year,” said Challenger.
The only industries that have announced fewer job cuts than during the same period last year
are Chemical, Financial, Pharmaceutical, and Utility.
Market Conditions were cited as the reason for 20,021 cuts in November, the highest number
for any reason. Demand Downturn followed with 17,659. Restructuring resulted in 11,676
cuts. COVID impacted 5,873 jobs in November, but leads all reasons in 2020 with 1,105,599.
Companies have announced 185,504 hiring plans in November, bringing the year-to-date total
to 3,113,595. Of those, 795,350 are seasonal hiring plans for the holidays. These hiring plans
are down from last year when employers announced 813,781 seasonal hiring plans.
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CHALLENGER, GRAY & CHRISTMAS, INC. JOB CUT ANNOUNCEMENT REPORT
Table 1: EXECUTIVE SUMMARY TOP FIVE INDUSTRIES
Year to Date
2020 2019
Entertainment/Leisure 857,620 14,389
Retail 182,307 74,686
Transportation 170,129 14,983
Services 156,662 24,534
Automotive 86,400 47,518
MONTH BY MONTH TOTALS
2020 2019
January 67,735 52,988
February 56,660 76,835
March 222,288 60,587
April 671,129 40,023
May 397,016 58,577
June 170,219 41,977
July 262,649 38,845
August 115,762 53,480
September 118,804 41,557
October 80,666 50,275
November 64,797 44,569
December 32,843
TOTAL 2,227,725 592,556
Some reductions are identified by employers as workers who will take early retirement offers or other special considerations to leave the company.
LAYOFF LOCATION
Year to Date California 397,783
New York 260,209
Florida 212,003
Texas 162,742
Ohio 94,370
Listings are identified by the location of the layoff or corporate headquarters as stated in announcement.
Copyright 2020 Challenger, Gray & Christmas, Inc.
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CHALLENGER, GRAY & CHRISTMAS, INC. JOB CUT ANNOUNCEMENT REPORT
Table 2: JOB CUTS BY INDUSTRY 19-Nov 20-Oct 20-Nov YTD 2019 YTD 2020
Aerospace/Defense 839 4,994 5,953 7,566 85,814
Apparel 223 25 1,193 2,046 28,511
Automotive 4,493 200 231 47,518 86,400
Chemical 87 48 1,154 332
Construction 261 967 167 3,971 10,257
Consumer Products 1,528 1,031 950 16,673 35,562
Education 750 4,990 1,648 15,626 41,663
Electronics 169 171 367 1,964 9,978
Energy 1,461 11,787 920 25,239 48,656
Entertainment/Leisure 2,081 14,804 11,666 14,389 857,620
Financial 1,110 2,757 223 22,199 13,667
FinTech 195 56 1,696 2,282
Food 1,962 745 1,100 23,134 31,273
Government 920 3,881 783 13,364 67,348
Health Care/Products 6,247 2,643 4,485 43,443 62,590
Industrial Goods 4,636 1,613 1,195 68,141 79,222
Insurance 205 4,247 312 3,135 7,825
Legal 77 32 0 1,133
Media 553 1,395 1,574 9,751 30,211
Mining 692 6,521 10,563
Non-Profit 157 314 977 3,147 51,818
Pharmaceutical 588 84 11,219 1,679
Real Estate 302 28 373 2,348 20,895
Retail 3,201 2,544 2,787 74,686 182,307
Services 3,004 9,471 5,412 24,534 156,662
Technology 7,292 88 11,431 63,447 77,826
Telecommunications 75 91 32 14,983 30,031
Transportation 1,104 11,475 10,455 26,445 170,129
Utility 231 1,794 1,673
Warehousing 203 280 391 9,580 23,798
TOTAL 44,569 80,666 64,797 559,713 2,227,725
Copyright 2020 Challenger, Gray & Christmas, Inc.
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CHALLENGER, GRAY & CHRISTMAS, INC. JOB CUT ANNOUNCEMENT REPORT
Table 3: JOB CUTS BY REGION, STATE
EAST Nov-20 YTD 2020 YTD 2019
Connecticut 512 10,893 2,914
Delaware 4,678 605
Dist. of Columbia 23,346 2,214
Maine 226 2,649 2,165
Maryland 909 38,785 3,918
Massachusetts 5,263 70,764 36,336
New Hampshire 262 75
New Jersey 2,617 48,307 19,565
New York 21,819 260,209 58,130
Pennsylvania 1,942 77,959 22,855
Rhode Island 3,599 61
Vermont 85 907 416
TOTAL 33,373 542,358 149,254
MIDWEST Nov-20 YTD 2020 YTD 2019
Illinois 4,674 66,900 30,333
Indiana 966 27,870 8,135
Iowa 141 6,616 3,540
Kansas 17,945 1,554
Michigan 1,913 48,641 29,113
Minnesota 150 71,714 9,151
Missouri 600 34,487 4,006
Nebraska 119 2,381 3,346
Ohio 1,714 94,370 15,864
Wisconsin 325 28,097 8,212
TOTAL 10,602 399,021 113,254
Copyright 2020 Challenger, Gray & Christmas, Inc.
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CHALLENGER, GRAY & CHRISTMAS, INC. JOB CUT ANNOUNCEMENT REPORT
Table 3 (cont’d): JOB CUTS BY REGION, STATE WEST Nov-20 YTD 2020 YTD 2019
Alaska 2,547 3,777
Arizona 487 21,141 6,358
California 7,545 397,783 97,010
Colorado 336 42,444 8,656
Hawaii 6,500 688
Idaho 2,067 1,827
Montana 370 318
Nevada 302 67,403 2,669
New Mexico 20 4,513 2,389
North Dakota 583 150
Oklahoma 8,189 1,097
Oregon 1,063 27,245 4,095
South Dakota 5 529 976
Texas 2,234 162,742 32,615
Utah 160 1,400 884
Washington 471 94,168 10,940
Wyoming 384 2,032 1,961
TOTAL 13,007 841,656 176,410
SOUTH Nov-20 YTD 2020 YTD 2019
Alabama 750 7,392 2,150
Arkansas 2,081 1,378
Florida 3,177 212,003 16,873
Georgia 1,186 42,105 14,449
Kentucky 19 28,769 8,020
Louisiana 48 17,820 5,359
Mississippi 4,735 2,701
North Carolina 315 38,627 14,280
South Carolina 1,156 14,724 10,603
Tennessee 883 52,635 17,372
Virginia 281 16,072 24,948
West Virginia 7,727 2,662
TOTAL 7,815 444,690 120,795
Copyright 2020 Challenger, Gray & Christmas, Inc.
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CHALLENGER, GRAY & CHRISTMAS, INC. JOB CUT ANNOUNCEMENT REPORT
Table 4: JOB CUTS BY REASON
Nov-20 YTD
COVID-19 5,873 1,105,599
Market Conditions 20,021 432,098
Demand Downturn 17,659 230,027
Closing 4,570 102,727
Cost-Cutting 2,803 86,028
Restructuring 11,676 83,576
No Reason Provided 65,815
Voluntary Severance/Buyouts 36,912
Oil Price Downturn 22,805
Bankruptcy 585 14,173
Contract Loss 315 11,005
Acquisition/Merger 294 8,255
Financial Losses 8,056
Refocus 4,799
Consolidation 3,390
737 Max Halt in Production 3,233
Relocation (Domestic) 233 2,446
Police Protests 1,589
Outsourcing Operations to Another US Company 700 1,455
Technological Update 63 1,390
Steel Downturn 578
Government Regulation 489
Coal Downturn 429
Fires 260
Relocation (International) 260
Legal Trouble 218
Tariffs 108
TOTAL 64,792 2,227,720
Copyright 2020 Challenger, Gray & Christmas, Inc.
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CHALLENGER, GRAY & CHRISTMAS, INC. JOB CUT ANNOUNCEMENT REPORT
Table 5: QUARTER BY QUARTER Q1 Q2 Q3 Q4 TOTAL
1989 9,850 10,100 24,085 67,250 111,285
1990 107,052 87,686 49,104 72,205 316,047
1991 110,056 76,622 147,507 221,107 555,292
1992* 110,815 85,486 151,849 151,850 500,000
1993 170,615 84,263 194,486 165,822 615,186
1994 192,572 107,421 117,706 98,370 516,069
1995 97,716 114,583 89,718 137,865 439,882
1996 168,695 101,818 91,784 114,850 477,147
1997 134,257 51,309 95,930 152,854 434,350
1998 139,140 131,303 161,013 246,339 677,795
1999 210,521 173,027 173,181 118,403 675,132
2000 141,853 81,568 168,875 221,664 613,960
2001 406,806 370,556 594,326 585,188 1,956,876
2002 478,905 292,393 269,090 426,435 1,466,823
2003 355,795 274,737 241,548 364,346 1,236,426
2004 262,840 209,895 251,585 315,415 1,039,735
2005 287,134 251,140 245,378 288,402 1,072,054
2006 255,878 180,580 202,771 200,593 839,822
2007 195,986 197,513 194,095 180,670 768,264
2008 200,656 275,292 287,142 460,903 1,223,993
2009 562,510 318,165 240,233 151,122 1,120,908
2010 181,183 116,494 113,595 118,701 529,973
2011 130,749 115,057 233,258 127,018 606,082
2012 143,094 139,997 102,910 137,361 523,362
2013 145,041 113,891 128,452 121,667 509,051
2014 121,341 124,693 117,374 119,763 483,171
2015 140,214 147,458 205,759 105,079 598,510
2016 180,920 132,834 121,858 91,303 526,915
2017 126,201 100,799 94,478 97,292 418,770
2018 140,379 104,800 120,879 172,601 538,659
2019 190,410 140,577 133,882 127,687 592,556
2020 346,683 1,238,364 497,215 2,082,262
AVG 201,433 185,951 183,158 193,633
*Estimate based on half-year total. Challenger began tracking job cut data in 1993. Before that, it was tabulated by an independent newsletter no longer published.
Copyright 2020 Challenger, Gray & Christmas, Inc.
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CHALLENGER, GRAY & CHRISTMAS, INC. JOB CUT ANNOUNCEMENT REPORT
Table 6: ANNOUNCED HIRING PLANS By Month
2020 2019 2018 2017 2016 2015
January 23,229 74,040 41,890 136,501 8,362 8,774
February 88,202 15,279 139,925 25,765 7,539 14,574
March 824,610 96,368 14,525 127,006 10,997 6,412
April 285,639 258,302 13,842 61,537 11,557 13,898
May 38,981 8,663 9,889 77,447 24,732 12,598
June 75,454 11,946 13,504 40,095 13,564 11,176
July 246,507 22,316 9,823 88,142 16,051 11,637
August 160,411 24,937 17,274 14,530 9,101 11,778
September 929,860 459,689 595,997 422,726 487,075 492,306
October 255,198 190,835 130,338 37387 135,532 86,107
November 185,504 19,063 15,422 61,300 108,994 10,026
December 26,313 15,999 8,218 35,198 11,465
TOTAL 3,113,595 1,207,751 1,018,428 1,100,654 868,702 690,751
NOTES: In January 2020, Dollar General announced it would add 8,000 jobs. In February, The Home Depot announced 80,000 hires. In March, COVID-19 caused companies to announce 821,810 hiring plans. In April, COVID-19 caused companies to announce 280,200 hiring plans. In May, COVID-19 caused companies to announce 32,000 hiring plans. In September, 378,200 new jobs were announced due to the holidays (See Table 8). In September, McDonald’s announced it would add 260,000 jobs as it reopens restaurants.
Copyright 2020 Challenger, Gray & Christmas, Inc.
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CHALLENGER, GRAY & CHRISTMAS, INC. JOB CUT ANNOUNCEMENT REPORT
Table 7: ANNOUNCED HIRING PLANS
INDUSTRY NOVEMBER YEAR-TO-DATE
Aerospace/Defense 1,085 15,973
Apparel 4,070
Automotive 6,450 20,827
Chemical 410
Construction 233 33,578
Consumer Products 1,931 12,584
Education 4,525 30,198
Electronics 331 2,297
Energy 1,626 6,939
Entertainment/Leisure 11,595 450,407
Financial 2,471 27,508
FinTech 190
Food 6,552 22,759
Government 34,383 155,258
Health Care/Products 13,498 96,367
Industrial Goods 1,015 7,692
Insurance 3,150 9,554
Legal 924
Media 29 1,615
Mining 14 14
Non-Profit 12,080 15,244
Pharmaceutical 1,641 4,270
Real Estate 1,262 17,042
Retail 74,600 1,171,278
Services 2,582 81,701
Technology 3,075 43,631
Telecommunications 120 5,675
Transportation 470 737,970
Utility 19 1,097
Warehousing 767 136,523
TOTAL 185,504 3,113,595
Copyright 2020 Challenger, Gray & Christmas, Inc.
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CHALLENGER, GRAY & CHRISTMAS, INC. JOB CUT ANNOUNCEMENT REPORT
Table 8: ANNOUNCED HOLIDAY HIRING PLANS Company 2012 2013 2014 2015 2016 2017 2018 2019 2020
Amazon 50,000 70,000 80,000 100,000 120,000 120,000 100,000 200,000 100,000
Target 88,000 70,000 70,000 70,000 77,500 100,000 120,000 133,000 130,000
UPS 55,000 55,000 95,000 95,000 95,000 95,000 100,000 95,000 100,000
Macy's 80,000 83,000 86,000 85,000 83,000 87,000 80,000 80,000 25,000
FedEx (Transportation) 20,000 20,000 50,000 55,000 50,000 50,000 55,000 55,000 70,000
JCPenney 40,000 35,000 35,000 30,000 40,000 40,000 39,000 37,000 1,700
DHL Supply Chain 7,000
Michaels 15,000 15,000 15,000 16,000
Kroger 14,000 10,000 20,000
Dollar Tree 25,000 25,000
Nordstrom 11,800 11,400 13,650
Toys"R"Us 45,000 45,000 45,000 40,000 12,500
Burlington Stores 12,000
The Bon-Ton Stores 13,500 10,000
1-800-FLOWERS.COM Inc. 8,000 8,000 8,000 10,000
McDonald's 3,179
Williams-Sonoma 2,000 2,500
Fanatics 2,000
Plow & Hearth 400
Opryland 300 400
Kohl's 52,700 53,000 76,970 79,160 69,000 90,000 90,000
Walmart 50,000 55,000 60,000 60,000 20,000
GameStop 17,000 17,000 25,000 28,000
Dick's Sporting Goods 9,000
Sports Authority 3,500
Best Buy 14,000
Meijer 12,000 9,000 10,000 200
Radial 20,000 23,000 20,000 12,581 25,000
Party City 35,000 25,000 20,000
Gap 63,000 65,000 30,000 10,000
Versant Supply Chain 2,000
L Brands 4,000 4,000 4,000
XPO Logistics 6,000 8,000
Hickory Farms (Food) 5,225 6,000
Alter'd State 1,200
Fresh Market 1,500
Office Depot 3,000
Shipt 100,000
Sheetz 3,000
Hy-Vee 10,000
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Giant Eagle 1,300
Omaha Steaks 3,000
Cherry Hill Programs 11,000
Kings Dominion 4,000
Legoland Florida 150
Lowe's 20,000
Bass Pro Shop 7,000 7,000
Total 528,925 518,000 695,970 657,460 620,700 614,129 714,000 813,781 759,350
Copyright 2020 Challenger, Gray & Christmas, Inc.