BREAKING: Challenger report - October layoffs hit 20-year high 📌

12:30 PM GMT, United States - Challenger Job Cuts for October:

actual 153.07k; previous 54.064K;

US employers announced 153,074 job cuts in October 2025, up 175% year-on-year and pushing year-to-date layoffs above 1.09 million, the highest through October since 2020 and the biggest October total since 2003. Cuts are driven mainly by cost-cutting, AI adoption, weak demand, and the “DOGE Impact” on federal and downstream jobs, with particularly heavy reductions in Warehousing, Technology, Retail, Services, Consumer Products, and Non-profits. October also saw an unusually high number of separate layoff announcements for a fourth quarter, despite companies typically avoiding holiday-season cuts due to bad optics. At the same time, planned hiring has slumped to 488,077 so far this year—the lowest since 2011—signalling a cooling labor market and a weak seasonal hiring outlook for 2025.

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Economic reports

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