Healthcare/products companies and manufacturers, including hospitals, announced a decrease in job cuts in the first two months of the year compared to the same period a year prior, according to one new analysis.
The findings come from a March 7 report from Challenger, Gray & Christmas, an executive coaching firm that examines job cuts by U.S.-based employers.
Healthcare/products companies and manufacturers, including hospitals, announced 7,987 job cuts in January and February combined, a 52% decrease from the 16,482 cuts announced in those months in 2023. The sector announced 3,805 job cuts in February (compared to 9,749 in February 2023) and 4,182 in January.
So far this year, Becker's has reported on at least 15 hospitals and health systems cutting jobs.
Across all 30 industries and sectors measured, companies announced plans to cut 84,638 jobs in February, up 3% from the 82,307 job cuts announced in January. It is 9% higher than the 77,770 job cuts announced in February 2023. Year to date, companies have announced 166,945 job cuts, down 7.6% from the 180,713 cuts announced in January and February 2023.