Challenger, Gray & Christmas (one of the top global executive outplacement firms, who consistently does top-quality employment research) recently released a report noting two important points:
- May 2026 job cut reports were their highest since 2026 and are continuing a challenging trend.
- Key drivers include: AI, M&A, and bankruptcies.
- Industry sectors most impacted include: tech, transportation, services, healthcare, pharma, fintech, government and media.
- Hiring plans, while low compared to pre-pandemic levels, do exist!
- Industry sectors with the strongest hiring plans include: automotive, tech & electronics, insurance, energy, entertainment/leisure, aerospace, defense and government.
What does this mean to folks in career transition / job search?
No matter what the downside appears to be, there is always an upside. Opportunities exist despite challenges.
- Keep your eyes and ears open.
- Network.
- Know you (Who you are; What you bring to the party; How you define success).
Do the transition work and you’re likely to land the new work you seek!
Want to learn more? Looking to prepare yourself for career transition success?
Give us a shout!