A Thursday report from outplacement firm Challenger, Gray & Christmas shows job cuts last month increased by more than 153,000, up 175 percent from October of last year. In total, companies have announced more than one million job cuts in 2025, up 65 percent from the same time period last year. This was the worst October since 2003.
“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. “Technology continues to lead in private-sector job cuts as companies restructure amid AI integration, slower demand, and efficiency pressures.” Retail, warehousing, media, and nonprofits have also been impacted sectors.
No comments:
Post a Comment