U.S. Companies Announced Most Job Cuts for Any January Since 2009

• U.S. companies announced the largest number of job cuts for any January since the depths of the Great Recession in 2009, according to data from outplacement firm Challenger, Gray & Christmas Inc. Companies last month announced 108,435 job cuts, a 118% increase from a year earlier.
• The report on Thursday, February 5, 2026, also showed hiring intentions slid 13% from a year earlier to 5,306, marking the weakest total for any January in the firm’s records back to 2009.
• “Generally, we see a high number of job cuts in the first quarter, but this is a high total for January,” said Andy Challenger, the company’s chief revenue officer. “It means most of these plans were set at the end of 2025, signalling employers are less-than-optimistic about the outlook for 2026.”
• Contract loss, economic conditions and restructuring were the top three reasons for announced job cuts last month, according to the report. Almost half of the job cuts announced in January were tied to three companies, Amazon.com Inc., United Parcel Service Inc. and Dow Inc. Amazon announced plans to cut 16,000 corporate positions in a restructuring move, while UPS said it would shed as many as 30,000. Chemical maker Dow intends to eliminate about 4,500 positions, while Peloton Interactive Inc. and Nike Inc. also announced workforce reductions.
• The figures add to signs of a fragile labour market, characterised by limited numbers of overall dismissals and lacklustre hiring, that has unnerved consumers. At the same time, Federal Reserve policymakers contend the unemployment rate is showing “some signs of stabilisation.”

(Source: Bloomberg)