economy
February 6, 2026
The 'low-hire, low-fire' economy may be starting to shift with more layoffs—but not more hiring
Layoffs last month hit their highest January total since 2009, according to a report released Thursday by global outplacement firm Challenger, Gray & Christmas.
TL;DR
- U.S. employers announced 108,435 job cuts in January, an 118% increase from January 2025 and a 205% increase from December.
- January saw the lowest hiring level since 2009, with U.S. job openings dropping to a five-year low in December.
- Worker anxiety about job security is high, driven by sluggish hiring and the fear of difficulty finding new employment.
- High-profile layoffs from companies like Amazon and UPS are contributing to the increased numbers, with these two accounting for over 40% of January's announcements.
- While layoff numbers are increasing, the overall macroenvironment is described as 'low-hire, low-fire,' with some layoffs being corrections from pandemic-era overhiring or planned cuts over time.
- Job seeker confidence in finding another job fell to a record low of 44.9% in September, contributing to workers holding onto their current positions.
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