Job cuts in US rise 7% to 24,586 in May
Job cuts in the United States increased 7% compared to the previous month to stand at 24,586 in May, according to a Challenger, Gray & Christmas Inc. report issued on Thursday. On a yearly basis, the job cuts plunged 93.8%.
“Many employers, especially those hit hard during the pandemic, such as Retailers and Hospitality and Leisure companies, are having a difficult time finding workers. Many are offering signing bonuses or higher wages to attract workers,” Senior Vice President Andrew Challenger commented.
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