Layoff announcements surged last month: The worst October in 22 years [View all]

Source: CNN

Washington
—
Company announcements of layoffs in the United States surged in October as AI continued to disrupt the labor market.

Announced job cuts last month climbed by more than 153,000, according to a report by Challenger, Gray & Christmas released Thursday, up 175% from the same month a year earlier and the highest October increase since 2003. Layoff announcements surpassed more than a million in first 10 months of this year, an increase of 65% compared to the same period last year.

“This is the highest total for October in over 20 years, and the highest total for a single month in the fourth quarter since 2008. Like in 2003, a disruptive technology is changing the landscape,” the report said.

The outplacement and executive coaching firm said America’s labor market continued to normalize after a pandemic-era boom, but also cited “AI adoption, softening consumer and corporate spending, and rising costs” as key factors putting companies under pressure.

Read more: https://www.cnn.com/2025/11/06/economy/job-layoff-announcements-challenger