financetom
Economy
financetom
/
Economy
/
US announced job cuts decline in April, recruitment firm Challenger says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US announced job cuts decline in April, recruitment firm Challenger says
May 25, 2025 11:11 PM

WASHINGTON (Reuters) -Layoffs announced by U.S. employers dropped in April, but companies remained resistant to boost hiring amid an uncertain economic outlook because of tariffs.

Global outplacement firm Challenger, Gray & Christmas said on Thursday that planned job cuts fell 62% to 105,441 last month. Layoffs were, however, 63% higher compared to last year and April's tally was the highest for the month in five years.

"Generally, companies are citing the economy and new technology," said Andrew Challenger, senior vice president at Challenger, Gray & Christmas. "Employers are slow to hire and limiting hiring plans as they wait and see what will happen with trade, supply chain and consumer spending."

A massive front-loading of imports as businesses tried to get ahead of President Donald Trump's tariffs weighed on gross domestic product in the first quarter.

So far this year, employers have announced 602,493 layoffs, the highest year-to-date total since 2020 and up 87% from the 322,043 cuts announced during the same period in 2024.

They were led by the government, with 282,227 job cuts, 281,452 of which were attributed to tech billionaire Elon Musk's Department of Government Efficiency, or DOGE.

Hiring plans rose to a still-tepid 16,191 from 13,198 in March. Plans were up 65% compared to the same period last year.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Amid Trump tariffs, China's trade and economy tsar steps into spotlight
Amid Trump tariffs, China's trade and economy tsar steps into spotlight
May 25, 2025
BEIJING/WASHINGTON (Reuters) -When the leaders of some of the world's largest companies flocked to Beijing for a business forum last month, their main purpose was a coveted meeting with Chinese leader Xi Jinping. But many were left impressed by Vice Premier He Lifeng, according to a U.S. business person briefed on the encounters.   A longtime confidant of the Chinese leader,...
US Dollar Dominance, Trump's Trade War, And The Threat Of Recession: This Week In Economy
US Dollar Dominance, Trump's Trade War, And The Threat Of Recession: This Week In Economy
May 25, 2025
The past week has been a rollercoaster ride for the markets, with significant shifts and potential economic shocks looming on the horizon. From the unique advantage of the US in navigating economic shifts due to its dollar-denominated debt, to the escalating tariff war initiated by President Donald Trump, the economic landscape is rife with uncertainty. Here’s a quick recap of...
16 Million Jobs At Risk In China As US Tariffs Hammer Manufacturing And Retail Sectors, Goldman Sachs Warns
16 Million Jobs At Risk In China As US Tariffs Hammer Manufacturing And Retail Sectors, Goldman Sachs Warns
May 25, 2025
Analysts from Goldman Sachs have warned that the U.S. tariffs on Chinese imports could put up to 16 million jobs in China at risk, particularly in the manufacturing sector. What Happened: The bank stated that persistently high U.S.-China tariffs and a significant drop in Chinese exports could put pressure on labor markets. The jobs under threat are primarily involved in the production of exports to...
U.S. tariffs will cause demand shock to Singapore economy: MAS
U.S. tariffs will cause demand shock to Singapore economy: MAS
May 25, 2025
SINGAPORE (Reuters) -U.S. tariffs will have multiplier effects that will generate a broader negative income and demand shock to the Singapore economy, the Monetary Authority of Singapore said in its macroeconomic review released on Monday. As well as the direct impact of a 10% baseline tariff on Singapore's exports to the U.S., its second-largest export market, there will also be...
Copyright 2023-2026 - www.financetom.com All Rights Reserved