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In addition, 57% of those CFOs told the research firm they planned some degree of HR budget cuts this year, with 22% of financial executives projecting reductions of 4% or more — the deepest cut to any organizational department.

Key Takeaways Schumer Bill Seeks to Reverse Cuts to Healthcare, Including Medicaid;Legislation Seeks to Increase 401(k) Access to Young Workers;Bill Aims to Strengthen Healthcare-Based ‘No Surprises Act’;Senate Committee Unanimously Advances Pair of ESOP Bills;NLRB’s Acting General Counsel Issues Memo on ‘Salting’ Cases;Senate Committee Reverses EBSA Funding Cuts; Schumer Bill Seeks to Reverse Cuts to Healthcare, Including Medicaid Senate Minority Leader Chuck Schumer (D-New York) on Monday, Aug. 4, introduced the Protecting Health Care and Lowering Costs Act ( S. 2556 ), which aims to repeal healthcare cuts in the recently signed H.R. 1 law (also known as the One Big Beautiful Bill Act), including those to Medicaid, and permanently extend the Affordable Care Act premium tax credits that are set to expire at the end of this year.

A Reuters review of four leading budget forecasters also pointed out that, combined with tax cuts Trump plans to resurrect from his first term, any proposed cuts on overtime pay — as well as related new cuts on tips and Social Security benefits — could add $3.6 trillion to $6.6 trillion to primary U.S. deficits over the next decade.

The report found: ;More than half of the remaining employees said departing employees had either unique knowledge or specific subject matter expertise.; ;More than a third reported they or their colleagues had taken on additional work or responsibilities to ensure the SEC could continue to carry out its mission.; ;Remaining employees did not expect to meet standard annual goals, with at least one manager reducing output goals by 20% due to lost personnel.; The SEC job cuts and resignations reflect a wider trend of experienced employees leaving, driven by shifting corporate priorities, burnout, and a growing sense that their expertise is undervalued amid cost-cutting and structural changes, said Tom McMullen, a senior client partner at consulting firm Korn Ferry.

Job Cuts Increased for Third Consecutive Month U.S. employers cut 97,006 jobs in May, up 16% from the 83,387 job cuts recorded in April, and up 3% from the 93,816 announced for May 2025, according to a report released Thursday, June 4 , by Challenger, Gray & Christmas.

Workplace Culture; ;Intel Plans to Cut More Than 20% of Workforce; Report: 4 in 5 U.S.

AI has been cited for 48,414 job cuts this year.; ;Market and economic conditions as responsible for another 21,104 cuts, bringing the year-to-date total for this reason to 229,331.; ;Closings of stores, units and plants as triggering 16,739 cuts for the month and 161,391 for the year.; ;Restructuring as the factor in 7,588 cuts, for a total of 108,038 so far in 2025.; “October’s pace of job cutting was much higher than average for the month.

UPS to Cut 20,000 Jobs, 70+ Facilities UPS is looking to cut about 20,000 jobs this year and close more than 70 facilities by the end of June as it drastically reduces the amount of Amazon shipments it handles, according to the Associated Press .

-based employers announced 62,075 job cuts in July, up 29% from June’s 47,999 and up a whopping 140% from July 2024 (25,885 cuts), according to a report released Jan. 31 by Challenger, Gray & Christmas.

Jobs Market Was Strong in March, But Uncertainty Looms;Target Cuts Employee Bonuses;Universities to End DEI Programs in Wake of New State Laws;New Report Exposes Global LGBTQ+ Workplace Challenges; U.S.