US employers hit two-decade high in October job cuts

Employers across the nation cut more than 150,000 jobs last month in a 22-year high for October layoffs, according to a report released Thursday.

At least 153,074 job cuts happened in October, marking a 175% increase from the 55,597 job cuts in October 2024, according to Challenger, Gray & Christmas. The latest figure is also up 183% from the 54,064 cuts announced this September, showing a rapid surge in layoffs in a short period of time.