US Layoffs for October Surge to Two-Decade High, Challenger Data Shows

U.S.-based employers cut more than 150,000 jobs in October, marking the biggest reduction for the month in more than 20 years, a report by Challenger, Gray & Christmas said on Thursday as industries adopt AI-driven changes and intensify cost cuts.

Tech firms led the job cuts in the private sector, followed by retailers and the services sector, the global outplacement company said.

Cost-cutting was the top reason for the layoffs in October, followed by artificial intelligence, while "DOGE Impact" was the leading reason for job cuts in 2025...

 

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