California Finished 2017 Leading Nation With Most Job Cuts

The Golden State isn't so golden for many after California finished 2017 with the dubious distinction of leading the nation in most job cuts. It ranked at the top with more than 63,300 jobs cut throughout 2017. 

Andrew Challenger with the executive coaching firm Challenger, Gray and Christmas said lots of industries in California faced cuts. 

"In California, we saw some closures in the computer industry, in pharmaceuticals, and hospitals. As well as some activity from retailers, which was the predominant area where we saw cuts last year." 

December was the worst month for jobs, as more than 4,500 jobs were cut. Retail, health care products and service industries were most likely to be affected by the job cuts. Companies say the job-cutting came from a need to reduce costs, company restructurings, and closing stores. 

Despite the gloomy news, Challenger remains bright about California's future. 

"The trends are all very positive. We saw employers announce 1.1 million new hires they planned last year. We've seen a lot of positive reactions from companies because of the new tax legislation. So we may see another strong year from employers."

Photo: Getty Images

Sponsored Content

Sponsored Content