Amazon announced plans to cut 16,000 corporate positions in a restructuring move. (Klaus Galiano/Bloomberg)
February 5, 2026 8:48 AM, EST
U.S. companies announced the largest number of job cuts for any January since the depths of the Great Recession in 2009, according to data from outplacement firm Challenger, Gray & Christmas Inc.
Companies last month announced 108,435 job cuts, a 118% increase from a year earlier. The report on Feb. 5 also showed hiring intentions slid 13% from a year earlier to 5,306 — marking the weakest total for any January in the firm’s records back to 2009.
“Generally, we see a high number of job cuts in the first quarter, but this is a high total for January,” said Andy Challenger, the company’s chief revenue officer. “It means most of these plans were set at the end of 2025, signaling employers are less-than-optimistic about the outlook for 2026.”
Contract loss, economic conditions and restructuring were the top three reasons for announced job cuts last month, according to the report.
Almost half of the job cuts announced in January were tied to three companies — Amazon.com Inc., UPS Inc. and Dow Inc. Amazon announced plans to cut 16,000 corporate positions in a restructuring move, while UPS said it would shed as many as 30,000.
Chemical maker Dow intends to eliminate about 4,500 positions, while Peloton Interactive Inc. and Nike Inc. also announced workforce reductions.
The figures add to signs of a fragile labor market — characterized by limited numbers of overall dismissals and lackluster hiring — that has unnerved consumers. At the same time, Federal Reserve policymakers contend the unemployment rate is showing “some signs of stabilization.”
UPS ranks No. 1 and FedEx ranks No. 2 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. UPS Supply Chain Solutions is No. 5 on the TT Top 100 list of the largest logistics companies. The company also ranks No. 3 on the TT Top 50 list of the largest global freight carriers.
Amazon ranks No. 1 on the Transport Topics Top 100 list of the largest logistics companies in North America, No. 15 on the TT Top 100 list of the largest private carriers and No. 1 on the TT Top 50 list of the largest global freight companies.
