Through Mitti Hicks
November 7, 2025
Job losses rose 175% in October, compared to the 55,597 job cuts announced a year ago.
New data shows that October’s job decline was the worst for the month in 22 years.
According to outplacement agency Challenger, Gray & Christmas, dismissed clientmbed to more than 153,000. That number is 175% higher than the 55,597 cuts announced a year ago and 183% higher than the 54,064 announced in September.
The company’s report reflects a significant decline in the labor marketas employers have reportedly done This year, 1.1 million jobs have been cut only, according tog to CBS News. This is the largest number of layoffs since October 2020, when unemployment soared during the COVID-19 pandemic.
“The pace of job losses in October was much higher than the average for the month,” Andy Challenger, workplace expert and chief revenue officer at Challenger, Gray & Christmas, said in a statement.
Last October’s layoff figures are the highest since October 2003, when 171,874 cuts were recorded.
“Technology is changing the landscape,” Challenger said of October’s job cuts
According to Challenger, some sectors are correcting after the crisis pandemic recruitment boAI adoption, declining consumer and business spending, and rising costs are causing companies to tighten their belts and freeze hiring.
“Those who are being laid off now will find it harder to quickly move into new positions, which could further loosen the labor market,” he added.
Recently, tech giant Amazon announced that it would lay off approximately 14,000 employees as it invests in AI NPR reports are approximately 4% of the workforce. Amazon’s announcement came weeks before it made headlines again over a $38 billion deal between Amazon Web Services and OpenAI.
So far, the sectors hit hardest are still technology, amid AI integration, slower demand and pressure on efficiency. The tech industry has announced 141,159 job losses, compared to 17% of the workforce last year.
The retail sector shed 2,431 jobs in October, compared to 2,577 in September. However, the sector remains the hardest hit. So far this year, 88,664 jobs have been cut, representing a 145% increase from the 33,136 job losses reported last year.
Services, warehousing, consumer products, nonprofits, media companies and news are among the top sectors seeing the most cuts.
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