Overview

• Employers announced 54,064 job cuts in September, down 37% from August and 26% from a year earlier.
• Year-to-date announcements total 946,426, the highest since 2020, and Challenger says cuts could exceed 1 million in 2025.
• Third-quarter planned layoffs reached 202,118, the largest Q3 since 2020 and up 16% from the same quarter last year.
• Hiring plans stand at 204,939 so far this year, a 58% decline from 2024 and the lowest year-to-date level since 2009.
• “DOGE Actions” lead stated reasons with 293,753 planned reductions, and companies cited artificial intelligence for 7,000 September cuts and 17,375 year to date.