December 2020 Job Cuts Jump
from Challenger Gray and Christmas
Planned job cuts announced by U.S.-based companies jumped to 77,030 in December, up 18.9% from the 64,797 in November.
December s total is 134.5% higher than the 32,843 cuts announced in the final month of last year. In 2020, 2,304,755 job cuts were announced, 289% higher than the 592,556 cuts announced in 2019. It is the highest annual total on record, and 17.8% higher than the previous record high of 1,956,876 cuts recorded in 2001.
Despite the jump in monthly cuts, the fourth quarter saw the fewest job cuts of the year, with 222,493, down 55.3% from the 497,215 tracked in Q3 2020. It is 74.2% higher than the same quarter in 2019, when 127,687 cuts were recorded. With the exception of the quarterly totals in 2020, it is the highest quarterly total since Q3 2011, when 233,258 job cuts were announced.
Fewer Job Seekers Relocating In Q3
from Challenger Gray and Christmas
After spiking to 7.5% in the second quarter due to the shutdown orders precipitated by the COVID-19 pandemic, the relocation rate of job seekers fell to 4.2% in the third quarter.
The data comes from a quarterly survey of over 3,000 job seekers across the country conducted by Challenger. The events of March and April - the shutdowns, demand downturn, and ultimate recession - changed the way job seekers sought and accepted positions in the second quarter. Many more were willing to move to take a role that might not be there if they waited and was unlikely to be created in their current location, said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc.
CHICAGO (WLS) For the 35th consecutive year, Challenger, Gray & Christmas, Inc. will suspend normal business operations.
Instead of their normal day-to-day business, the staff of professional job search coaches will be available to provide free job search advice to callers.
Unlike in years past, coaches will take calls from their homes this year.
Adobe Stock (Custom credit)
To complement a company-wide Zoom call in December, employees at a consulting firm in Connecticut received boxes delivered to their homes that were packed with branded pajama pants and fuzzy socks, silly hats and fake mustaches, cheese and crackers, and a bottle of Prosecco.
Given the restrictions on in-person gatherings because of the pandemic, it was the best the company, OperationsInc, could come up with to replicate its annual holiday party, traditionally held at a bar or restaurant. On those occasions, employees enjoyed a night filled with company swag, drinks, photo booths, karaoke, and â of course â co-workers.
Canceled holiday parties hurt event workers, from caterers to carolers
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Executive Chef Josiph Martinovic assembles Dungeness crab and celery root salads for box meals at McCalls Catering.Jessica Christian / The ChronicleShow MoreShow Less
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Herb-crusted racks of lamb wait to be packaged as part of food boxes for virtual galas.Jessica Christian / The ChronicleShow MoreShow Less
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McCalls kitchen manager Mario Molino carries cider glazed root vegetables for food boxes.Jessica Christian / The ChronicleShow MoreShow Less
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Kitchen staff at McCalls Catering & Events prepare food boxes for virtual special events in San Francisco.Jessica Christian / The ChronicleShow MoreShow Less