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Retail Bankruptcies Have Led To Over 30K Job Cuts in 2018

According to the firm Challenger, Gray & Christmas, employers have announced 33,530 job cuts due to bankruptcy so far this year, 30,212 of which were announced by retailers. That's compared to 4,970 bankruptcy-related job cuts last year. The largest announcement this year came from Toys"R"Us, which in March eliminated 30,000 jobs when it filed for bankruptcy and ceased operations.