Operations in the US made fewer in 2024, as the announced the smaller additions of personnel for nearly a decade, according to data published today Thursday (9,12025) and reports Bloomberg. Challenger’s monthly figures, Gray & Christmas showed that businesses announced recruitment plans of 769,953 employees last year, the least since 2015. Job cuts also accelerated, with employers planning to abolish 761,358 positions – an increase of 5.5% from 2023. CORVERSE Today’s report is based on recent evidence showing moderate labour demand, as businesses remain cautious in view of the change in the White House in January. “The lowest recruitment rate reflects the ongoing uncertainty in the economic conditions and cautious approaches of employers to expansion,” said Andrew Challenger, senior vice president of the executive consulting company behind the report. “While some sectors accelerate recruitment, others remain hesitant due to market instability and the impact of the new government”. In the personnel cuts last year technology companies took the lead, which announced nearly 134,000 job cuts. However, this figure represented 20.3% less redundancies in the sector than in 2023. Health care followed with 51,600 cuts and the automotive industry recorded some 48,200 layoff announcements amid the transition to electric vehicles and ongoing supply chain disturbances, according to the report. The “market conditions/economic conditions” were the most commonly reported reason for job cuts in 2024, which would affect around 150,000 jobs. Here are the “cost cuts”, corresponding to more than 148,000 cuts. “The companies suffered exceptional changes in 2024 due to rapid technological progress and changing economic conditions,” Challenger said. “Most employers expect additional uncertainty with upcoming administration, which leads to slower recruitment and more redundancies in the short term from various sectors”.
U.S.: Smaller recruitments of the decade were made in 2024
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