US-based employers announced 153,074 job cuts in October 2025, the highest total for the month since 2003, and the highest total for a single month in the fourth quarter since 2008. It compares with 54,064 in September. Most layoffs occurred in the warehousing (47,878), tech (33,281), food (10,662) and government (7,883) sectors. “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. Those laid off now are finding it harder to quickly secure new roles, which could further loosen the labor market,” said Andy Challenger, chief revenue officer for Challenger, Gray & Christmas. Through October, employers have announced 1,099,500 job cuts, an increase of 65% from last year. It is up 44% from the 761,358 cuts announced in all of 2024.

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