Retailers have eliminated 55,910 jobs so far this year — here's the full list

pulse

June 1, 2017 5:55 PM

The retail industry has lost more jobs than any other industry this year as struggling stores cut costs in order to stay in business.

Challenger, Gray and Christmas Inc, an outplacement consultancy firm that works with companies during restructurings, said that 55,910 retail job cuts have been announced so far in 2017, up from 38,264 that the industry had lost by this point last year. Challenger's data is based on information collected from SEC filings, news reports, and corporate announcements.

More than 3,200 store closures have already been announced

These job cuts are spurring a larger economic crisis, Business Insider. "The people that work in retail stores will lose their jobs, then spend less money in retail stores because they are no longer employed. That creates a cascade of economic challenges," he said.

Here is a list of the retailers cutting the most jobs in 2017:

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