Overview
- Challenger, Gray & Christmas reported more than 153,000 announced job cuts in October, up about 175% from a year earlier and the highest October total since 2003.
- With official September and October employment releases delayed, analysts are relying on private trackers such as ADP and Challenger despite warnings these are not full substitutes for government data.
- A report cited 31,039 automation-linked layoffs in October and 48,414 job cuts tied to AI so far this year, underscoring how technology is increasingly named as a cause of reductions.
- Major firms have announced large 2025 cuts, including Amazon (~30,000, about 10% of staff), Intel (~25,000) and Meta (~600), with some reductions attributed to efficiency gains from AI.
- Policymakers and experts are urging accelerated reskilling as studies warn many administrative and routine cognitive roles face transformation from AI, even as new technical and care-economy jobs emerge.