"This year has seen the most layoffs in the US since the pandemic, according to the consulting firm Challenger, Gray & Christmas. Employers have announced 1.17 million job cuts through November, a report published on Thursday showed. It's just the sixth time since 1993 that this figure has exceeded 1.1 million. 2025 has seen the fifth-highest number of job cuts. The most were seen in 2020, when the labor market was upended by the COVID-19 pandemic."
"The report found US employers announced 71,321 job cuts in November - up 24% from the same period last year. "Job cuts in November have risen above 70,000 only twice since 2008: in 2022 and in 2008," said Andy Challenger, chief revenue officer for Challenger, Gray & Christmas. The firm said that telecommunications companies cut the most jobs last month, at over 15,000, followed by some 12,000 layoffs in tech."
US employers announced 1.17 million job cuts through November 2025, the highest total since 2020 and one of only six occasions since 1993 to exceed 1.1 million. 2025 ranks as the fifth-highest year for job cuts through November, while 2020 remains the only year with more than 2 million cuts through that month. November 2025 recorded 71,321 announced cuts, a 24% increase year-over-year. Telecommunications led November job cuts with more than 15,000 positions eliminated, followed by roughly 12,000 layoffs in the technology sector. The worst comparable years include 2001, 2002, and 2009.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]