U.S.-based employers ramped up the pace of downsizing in August, as companies announced plans to cut 53,480 jobs from their payrolls. This is up 37.7% from July's total of 38,845. Last month's total was the highest August total since 2009, when 76,456 cuts were recorded, and 39% higher than the 38,472 cuts announced in August 2018. In the first eight months of the year, employers have announced plans to cut 423,312 jobs from their payrolls, up 36.2% from the 310,773 cuts during the same period last year. It is the highest eight-month total since 2015, when 434,554 cuts were announced. The Challenger Report for September will be released by global outplacement and executive and business coaching firm Challenger, Gray & Christmas, Inc. on Thursday, October 3 at 7:30 a.m. ET.




September CEO Report Due Wednesday, October 9
Increased churn continues at the chief executive position, as employers at U.S.-based companies announced 159 chief executive officer changes in August, the highest monthly total on record. Last month's total was 28% higher than the 124 CEO exits announced in July. It is 3% higher than the 154 CEO changes announced in the same month last year, the previous highest monthly total. Through August, 1,009 chief executives have left their posts, 15% more than the 879 CEOs who left the top spot at companies through August 2018. It is the highest total of CEO exits ever recorded in the first eight months of a year since Challenger began tracking in 2002. Chief executives are leaving at a faster clip than even during the recession. In 2008, the next highest year for CEO turnover, 992 CEOs had announced their exits through August, 2% lower than the current year-to-date total. The Challenger report on September CEO turnover will be released Wednesday, October 9, at 10:00 a.m. ET.

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Colleen Madden Blumenfeld, Director of Public Relations
Office: 312-422-5074
Mobile: 314-807-1568
colleenmadden@challengergray.com