Challenger: Retail hit hard by jobs cuts in August; CEO exits up 100%

A sharp rise in jobs cuts doesn't bode well for holiday hiring and it comes amid a surge in CEO exits. Retailers have eliminated 83,656 jobs this year through August — up 242% from the 24,489 cuts announced during the same period last year, according to a report from global outplacement and business and executive coaching firm Challenger, Gray & Christmas. In the month of August alone, retailers cut 3,169 jobs, compared to 1,412 cuts in August 2024.