US EditionJob cuts in October hit highest level for the month in 22 years, new report says
- On Nov 6, Challenger, Gray & Christmas reported U.S. employers announced 153,074 job cuts in October, the largest October since 2003, a 175% rise from last year.
- Cost-Cutting measures drove much of the activity, causing 50,437 layoffs, while artificial intelligence prompted 31,039 cuts in October, and the report said `DOGE Impact` leads 2025 federal-related reductions.
- Warehousing and technology executives announced nearly 48,000 warehousing cuts, more than 33,000 technology job eliminations, and about 34,000 operational roles cut last month.
- Bond investors pushed Treasury yields lower as markets reacted to labor-market weakness, with the 30-year bond yield falling to 4.712% and the 2-year note yield retreating to 3.588%.
- Employers have now announced over one million layoffs this year, a 65% year-over-year increase, with hiring plans averaging 48,808 new hires monthly, the lowest since 2011.
110 Articles
110 Articles
October Brought Deep Cuts at Multiple Campuses
Colleges shed hundreds of jobs last month as the sector grappled with federal research funding issues, declining enrollment, state budget cuts and other pressure points. Colleges announced more than 850 job cuts last month amid a tumultuous year for the sector. The layoffs hit large, wealthy, research institutions, such as the University of Southern California and Harvard University, which have multi-billion dollar endowments but have been batte…
Activist Post
Mish Talk - Global Economic Trend AnalysisCost Cutting Hits Jobs. October Layoffs Surge to Highest Level in 20 Years
The jobs hit parade is running in reverse. Hiring lowest in 14 years. Job Cuts on Cost-Cutting & AI Challenger, Gray, and Christmas notes Job Cuts on Cost-Cutting & AI U.S.-based employers announced 153,074 job cuts in October, up 175% from the 55,597 cuts announced in October 2024. It is up 183% from the 54,064 job cuts announced one month prior, according to a report released Thursday from global outplacement and executive coaching firm Chall…
Worst US Oct layoffs in over 20 years: Year-to-year job cuts surpass 1 million amid AI disruption
Although ADP painted a positive picture for private payrolls in the US, a new Challenger report has flipped it, announcing that this was the worst layoff-hit October in 22 years.
A 20-year record for job cuts
The firm Challenger, Gray & Christmas counted over 153,000 job cuts in this country last month — the most October layoffs since 2003. Are companies pivoting to save money in light of over hiring and AI, or we are we moving toward a more serious slowdown? Also in this episode: A training center in China narrows the gap between tech manufacturing labor supply and demand, the FAA orders flight cuts, and “green” data centers face expensive challenge…
US layoffs surge in October
US layoffs surged in October, pushing this year’s job cuts to levels normally seen in a recession. The new figures from a consulting firm fuel concerns about a labor market slowdown in the absence of official government data; the 1.1 million layoffs this year include reductions at large firms including UPS, Amazon, and Target. While many companies cited AI as a reason for the cuts, some analysts said employers may be “AI-washing” — blaming the t…
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