U.S.-based employers announced more than 800,000 job cuts by the end of July 2025, the highest since 2020. Job losses soared 75% compared to the same period in 2024, where 460,530 layoffs occurred. By July 2025, the total job cuts already surpassed the entire 2024 figure. The report highlights three main drivers of these layoffs: federal government spending cuts and the 'DOGE Impact,' which include reductions to the Federal workforce and its contractors, accounting for 289,679 layoffs year-to-date. The ensuing 'DOGE Downstream Impact' further affects jobs based on funding reductions.
The total 806,383 jobs lost in the first seven months of 2025 far outstrips the number of jobs lost during the same period just a year earlier.
The 'DOGE Impact,' driven largely by federal government spending cuts, is responsible for the majority of job losses in 2025, affecting 289,679 layoffs.
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