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2h ago

U.S. Employers Announce 153,074 October Job Cuts, Highest October Total Since 2003

Cost-cutting tied to AI restructuring signals the weakest hiring appetite since 2011.

The Amazon headquarters in Seattle on October 28. Major companies like Amazon and Target have announced major layoffs in recent months, with several of them citing AI.
People wait in a line outside a newly reopened career center for in-person appointments in Louisville, Kentucky, U.S., April 15, 2021. REUTERS/Amira Karaoud
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Overview

  • Employers have announced 1,099,500 job cuts through October, up 65% from the same period in 2024 and the highest year-to-date total through October since 2020.
  • Warehousing led October reductions with 47,878 planned cuts while Technology announced 33,281 as companies address overcapacity and automation.
  • Cost-cutting accounted for 50,437 October layoffs, with AI-linked restructuring responsible for 31,039 and 48,414 AI-cited cuts so far this year.
  • Challenger tracked nearly 450 separate October layoff announcements, and the leading reason cited year-to-date is “DOGE Impact” tied to federal workforce and contractor reductions.
  • Planned hiring stands at 488,077 through October, down 35% from 2024 to the lowest year-to-date level since 2011, with unusually weak seasonal hiring plans.