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U.S. employers ramped up layoffs in October to the very best stage for the month in 22 years as corporations regarded to chop prices and undertake synthetic intelligence (AI).
A report from the worldwide outplacement agency Challenger, Grey & Christmas discovered that employers lower 153,074 jobs in October, a rise of 175% from the 55,597 cuts introduced in October 2024. It additionally marks a 183% enhance from the 54,064 job cuts introduced in September.
“October’s pace of job cutting was much higher than average for the month. Some industries are correcting after the hiring boom of the pandemic, but this comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes,” mentioned Andy Challenger, office skilled and chief income officer at Challenger, Grey & Christmas.
“Those laid off now are finding it harder to secure new roles, which could further loosen the labor market,” Challenger added.
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Layoffs in October hit the very best stage since 2003, in line with a report from outplacement agency Challenger, Grey & Christmas. (Ok.M. Cannon/Las Vegas Assessment-Journal by way of Getty Photos)
U.S. employers have introduced 1,099,500 job cuts via October, a rise of 65% from the primary 10 months of 2024 and 44% larger than the 761,358 cuts introduced in all of 2024.
12 months-to-date job cuts in 2025 are on the highest stage since 2020, when 2,304,755 cuts had been introduced via October.
The variety of job cuts introduced final month was the highest month-to-month complete for October since 2003, when 171,874 cuts had been recorded. At the moment, there have been important job cuts introduced in retail resulting from acquisitions and within the telecommunications sector as cell telephones had been adopted extra broadly.
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The retail sector has been significantly exhausting hit by layoffs in 2025 to date. ( Stephanie Keith/Bloomberg by way of Getty Photos / Getty Photos)
“This is the highest total for October in over 20 years, and the highest level for a single month in the fourth quarter since 2008. Like in 2003, disruptive technology is changing the landscape,” Challenger mentioned.
“Over the last decade, companies have shied away from announcing layoffs in the fourth quarter, so it’s surprising to see so many in October,” Challenger added. “With the onset of social media, the ability for workers to share their negative experiences with their employers, the trend of announcing layoffs before the holidays fell away, a practice that seemed particularly cruel.”
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The warehousing trade led all sectors in layoffs final month. (Lucas Jackson/Reuters)
The warehousing trade led all industries in October job cuts, with 47,878 cuts introduced, up from 984 in September. The sector has lower 90,418 jobs yr to this point, which is a 378% enhance from the identical interval final yr.
The expertise sector introduced 33,281 cuts in October – a major enhance from 5,639 in September. Over the course of 2025, tech corporations have introduced 141,159 job cuts, a rise of 17% from the identical interval in 2024.
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Retailers introduced 2,431 job cuts in October, a decline from 2,577 within the prior month. Nevertheless, the retail sector stays among the many hardest hit industries this yr, with retailers asserting 88,664 job cuts yr to this point, a rise of 145% from the cuts introduced within the first 10 months of final yr.
