U.S. Challenger Layoffs Surge 140% Year-on-Year

According to a report by Jinse Finance, in July of this year, U.S. challenger companies laid off 62,075 employees. Compared to the same period last year, the number of layoffs surged by an astonishing 140%. This is the highest number of July layoffs since 2020. Unlike the typically calm summer months, this July stands out, as the average for the past four years was around 23,575.