Latest data released by Challenger, Gray, and Christmas Inc
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US-based employers announced 15,723 job cuts last month, down 17% from July. The total layoffs for the month was the lowest since June 1997 and from a year-on-year comparison, job cuts in August this year were down 86% from August 2020.
Challenger notes that:
"Companies are much more concerned about their talent getting poached than with finding ways to cut staff. They are in full retention mode..The ongoing downturn in supply of labor may very well speed up the adoption of robotics for many companies. While care-related positions are not likely to be replaced, any process that is repeatable, routine, and programmable could be automated, and would help alleviate the shortage of talent."
