The retail sector slashed 30,000 jobs in March, said the Bureau of Labor Statistics on Friday. That brings the total number of jobs lost in retail in March and February to nearly 61,000 as the sector grapples with right-sizing their costs amid the shift to digital shopping.
Retail leads all sectors this year with 38,464 announced cuts, 4,084 of which occurred in March, points out outplacement consultancy Challenger, Gray & Christmas. First quarter retail job cuts are 19% higher than the 31,832 cuts announced in the same period last year.
"Retail is typically an industry in flux, but we've seen long established companies close stores and cut workers. The industry, though, is creating openings just as quickly as they are cutting," says the firm's CEO John Challenger.
Here are some of the top retailers currently executing layoff plans, according to Challenger, Gray & Christmas.
Editor's Pick: Originally published Apr. 7.