11/06/2025

New Report Says Layoffs Increased through October

Employers have announced 1.1 million job cuts so far this year

Layoffs accelerated in October, pushing 2025 job cuts to levels typically seen in recessions, according to newly released data from Challenger, Gray & Christmas, a private firm that tracks workplace reductions.

U.S. employers have announced 1.1 million layoffs so far this year— the largest reading since the pandemic recession and on par with 2008 and 2009 job cuts during the Great Recession, the firm's figures show. The data includes a recent spate of layoffs at major companies such as Amazon, Target and UPS, and adds to growing concern about a labor market slowdown.

Employers cited cost-cutting and artificial intelligence as the top two reasons for job reductions in October.

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