by Mitti Hicks
November 7, 2025
Job reductions are up 175% this October, from the 55,597 cuts that had been introduced a 12 months in the past.
New information present that job reductions in October had been the worst for the month in 22 years.
In response to the outplacement agency Challenger, Grey & Christmas, layoffs climbed to over 153,000. That quantity is up 175% from the 55,597 cuts introduced a 12 months in the past and up 183% from the 54,064 introduced in September.
The agency’s report displays a big decline within the labor market, as employers have reportedly lower 1.1 million jobs this 12 months alone, according to CBS Information. This marks the most important variety of layoffs since October 2020, when unemployment surged amid the COVID-19 pandemic.
“October’s tempo of job chopping was a lot increased than common for the month,” Andy Challenger, office professional and chief income officer for Challenger, Grey & Christmas, stated in an announcement.
Layoff numbers from this previous October are the very best since October 2003, when 171,874 cuts had been recorded.
‘Know-how Is Altering The Panorama,’ Challenger Says on October Job Reductions
In response to Challenger, whereas some industries are correcting after the pandemic hiring boom, AI adoption, softening shopper and company spending, and rising prices are driving “belt-tightening and hiring freezes” amongst corporations.
“These laid off now are discovering it more durable to rapidly safe new roles, which may additional loosen the labor market,” he added.
Lately, tech big Amazon introduced it could lay off about 14,000 staff because it invests in AI, which NPR studies is about 4% of its workforce. Amazon’s announcement got here weeks earlier than it made headlines once more for a $38 billion deal between Amazon Net Providers and OpenAI.
To date, the industries getting hit the toughest proceed to be expertise amid AI integration, slower demand, and effectivity pressures. The expertise trade has introduced 141,159 job cuts, up from 17% of the workforce final 12 months.
The retail trade lower 2,431 jobs in October, which is down from 2,577 in September. The sector, nonetheless, stays essentially the most brutally hit. There have been 88,664 job cuts to this point this 12 months, representing a 145% improve from the 33,136 cuts reported final 12 months.
Providers, warehousing, shopper merchandise, nonprofits, media corporations, and information are among the many prime industries seeing essentially the most cuts.
RELATED CONTENT: San Antonio Confirms Standing As U.S. Dia De Los Muertos Epicenter After Document Competition
