U.S.-based employers announced 153,074 job cuts in October, up 183% from the 54,064 jobs cut the month prior, according to the latest report from global outplacement and executive coaching firm Challenger, Gray & Christmas.
October’s pace of job cutting was much higher than average for the month, and those workers who are laid off are finding it harder to quickly secure new roles, said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.
Through October, employers have announced 1,099,500 job cuts, an increase of 65% from the 664,839 announced in the first 10 months of last year. It is up 44% from the 761,358 cuts announced in all of 2024.
“Some industries are correcting after the hiring boom of the pandemic, but this comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes,” Challenger said.
Technology continues to sustain significant private-sector job cuts as companies restructure amid AI integration, slower demand, and efficiency pressures. In October, the sector announced 33,281 job cuts, up sharply from 5,639 in September. For the year, technology firms have announced 141,159 job cuts, up 17% compared to the same period in 2024.
Warehousing led all industries in October, announcing 47,878 job cuts, up from 984 in September. Year to date, the sector has lost 90,418 jobs, a 378% increase from the 18,904 cuts announced in the same period last year. The surge suggests ongoing overcapacity and automation-driven restructuring following pandemic-era growth.
Retailers announced 2,431 job cuts in October, down from 2,577 announced the prior month. So far in 2025, retail has announced 88,664 job cuts, a 145% increase from the 36,136 announced through October last year. The sector continues to face cost pressures, shifting consumer habits, and ongoing store closures.
Non-profits continue to be impacted by government funding as well as rising costs. These entities have announced plans to cut 27,651 so far this year, an increase of 419% from the 5,329 job cuts announced by this point in 2024.
Announced job cuts in other sectors include:
- 1,990 in the service sector in October, down from 6,290 in September. This sector, which includes companies that provide support to other businesses such as cleaning, staffing, and outsourcing firms, has announced 63,580 job cuts year to date, which is up 62% from the 39,296 announced during the same period in 2024.
- 3,409 job cuts in October in the consumer products sector, up from 1,983 in September. For the year, the sector has announced 41,033 job cuts, up 21% from the 33,865 cuts announced during the same period in 2024.
October’s overall total of 153,074 announced job cuts in all sectors is the largest for a single month since October 2003 when 171,874 cuts were recorded. That month, large job losses occurred in retail due to acquisitions and in telecommunication as cell phones gained wide adoption.
Hiring plans in 2025
Through October, U.S. employers have announced 488,077 planned hires, down 35% from the 750,333 announced at this point in 2024, the report said. It is the lowest year-to-date total since 2011, when 459,971 new hires were planned.
On average, employers have announced 48,808 new hires per month, the lowest monthly average since 2011, when an average of 44,798 new hires occurred monthly.
