Group 1 - The number of job cuts announced in the first five months of 2025 increased by 80% compared to the same period in 2024, totaling approximately 696,000 job cuts [1][2] - Job cuts are only 65,000 away from matching the total for all of 2024, which was just over 385,000 [1] - Economic and market conditions, along with federal funding cuts, are significant factors contributing to the increase in layoffs [2][4] Group 2 - Retail job cuts reached nearly 76,000 for the year, marking a 274% increase over 2024, making it the second-highest industry for job cuts after the federal government [4] - Store closures have been a major contributor to job losses, with several retailers shutting down locations due to economic pressures [6] - Notable retailers such as JCPenney, Macy's, and Forever 21 have announced store closures, with Forever 21 winding down its business primarily due to competition [7][8]