US-based employers have announced plans to cut 246,688 cuts through April 12th, up 11% from the 222,288 cuts announced through the entire month of March. April is shaping up to be the highest month for job cut announcements since January 2002 when 248,471 cuts were announced, according to preliminary job cut data from global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc.

244,073 of those cuts are due specifically to COVID-19, up 72% from the 141,844 COVID-19 cuts announced for this reason through all of March, bringing the total number of cuts due to COVID-19 to 385,917 through April 12. Challenger's report on April Job Cuts is due Thursday, May 7 at 7:30amET.

"With millions out of work due to state orders to shut down non-essential businesses, in addition to supply shock the virus created in trade, companies are making the hard decision to cut staff," said Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc.

During the Great Recession, employers announced plans to cut 2,512,023 jobs between January 2008-December 2009. From January 2001 to December 2002, employers announced plans to cut 3,423,699.

"Employers are beginning to assess how and when they will bring their workers back to work. A new Challenger survey suggests many companies will not reopen until health experts agree it is safe to do so. Many are taking the lead of their state governments," he added.

According to the survey, conducted online the week of April 12, over 47% of employers are taking the lead of state governments to determine when to reopen. Another 14% will listen to the federal government, and 13% report they will listen to leading health experts to determine when they will reopen.

When asked for how long they plan to keep their pandemic plans in place, 61% reported they will continue their efforts until leading health experts declare it is safe to bring workers back together. Another 24% are planning to continue pandemic precautions for 1 to 3 months, while 8% are planning for 3-6 months.

Results of the full survey will be released Monday, April 20th.

Challenger tracks job cuts announced by US-based employers. The firm typically does not track cuts that are due to furloughs, since those workers are technically still employed. However, if the firm can determine that the workers are not receiving compensation or benefits, it will count them.