US layoffs for October surge to two-decade high, Challenger data shows

U.S.-based employers cut more than 150,000 jobs in October, marking the biggest reduction for the month in more than 20 years, a report by Challenger, Gray & Christmas said on Thursday as industries adopt AI-driven changes and intensify cost cuts.
Tech firms led the job cuts in the private sector, followed by retailers and the services sector, the global outplacement company said.