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Layoffs introduced by employers declined on a month-to-month foundation in November however nonetheless pushed the 2025 complete to the best stage because the wave of pandemic-induced layoffs in 2020, new information from Challenger, Grey & Christmas reveals.
The report discovered that U.S. employers introduced 71,321 layoffs in November — down 53% from the 153,074 cuts introduced in October.
Layoffs within the month of November had been up 24% from the 57,727 cuts introduced in that month final yr, and reached their highest stage for the month since 2022, which marked the eighth time this yr that job cuts in a given month had been greater than the corresponding month a yr in the past.
“Layoff plans fell last month. Certainly a positive sign. That said, job cuts in November have risen above 70,000 only twice since 2008: in 2022 and in 2008,” stated Andy Challenger, office professional and chief income officer for Challenger, Grey & Christmas.
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Challenger, Grey & Christmas reported that layoffs slowed in November, though the 2025 complete to this point is the best because the pandemic. (David Paul Morris/Bloomberg by way of Getty Pictures)
Traditionally, job cuts in November had been beneath 70,000 from 1993 till 2000, then the recession yr of 2001 pushed the cuts that month to greater than 181,000, in keeping with the agency’s monitoring. Layoffs in November remained elevated till 2009 and stayed beneath 200,000 till the pandemic.
“It was the trend to announce layoff plans toward the end of the year, to align with most companies’ fiscal year-ends. It became unpopular after the Great Recession especially, and best practice dictated layoff plans would occur at times other than the holidays,” Challenger stated.
Employers have introduced 1,170,821 job cuts this yr by November, a rise of 54% from the 761,358 introduced within the first 11 months of 2024.
Yr-to-date job cuts have reached the best stage since 2020, when there have been 2,227,725 cuts introduced by November amid the COVID-19 pandemic.
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This yr marks the sixth time since 1993 that year-to-date job cuts by November have topped 1.1 million, Challenger discovered. The variety of layoffs by November is the fifth highest since 1993.
Apart from 2020, the best complete for cumulative layoffs introduced by November of a given yr was 1,956,876 in 2001, which was additionally a recession yr, whereas 2002 noticed 1,373,906. One other recession yr, 2009, noticed 1,242,936 layoffs, in keeping with Challenger’s monitoring.
Telecommunications was the business with probably the most layoffs introduced in November as 15,139 job cuts had been introduced, primarily from plans introduced by Verizon. That is the best month-to-month complete for the sector since April 2020, when 16,552 layoffs had been introduced, and to this point in 2025 the sector has introduced 38,035 layoffs – a rise of 268% from final yr.
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The tech sector has introduced probably the most layoffs so far in 2025 by November. (Joe Raedle/Getty Pictures)
The tech sector introduced 12,377 layoffs final month, which pushed the 2025 complete to 153,536, up 17% from final yr.
Meals corporations, significantly these within the beef business, introduced 6,708 cuts in November. That brings the cumulative 2025 complete to 34,165, a rise of 26% from final yr.
Corporations within the companies sector introduced 5,509 cuts in November, bringing their complete for the yr to 69,089, up 64% from a yr in the past.
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Retailers reduce 3,290 job cuts in November, and the sector has seen 91,954 layoffs introduced this yr, which is up 139% from 2024.
