7 November 2023
Retail job cuts have spiked to 72,182, the highest since 2020, outpaced only by the technology sector’s layoffs. U.S. retailers are slashing jobs at an alarming rate, up 258% from last year, even as they enter the critical holiday season. Despite a slight decrease in overall U.S. job cuts in October, the trend remains upwards from last year, indicating a troubling labor market in the retail industry.