FX.co ★ October US Job Cuts Reach 22-Year High

In October 2025, American employers disclosed a total of 153,074 job cuts, marking the highest figure for this month since 2003, a significant increase from the 54,064 reductions reported in September. The majority of these layoffs were concentrated in the warehousing sector (47,878), followed by technology (33,281), food services (10,662), and the government sector (7,883). According to Andy Challenger, Chief Revenue Officer for Challenger, Gray & Christmas, "October experienced a notably elevated rate of layoffs compared to the monthly average, driven by industries adjusting after the pandemic's hiring surge. This is happening alongside the adoption of AI, a decline in both consumer and corporate spending, and increased costs that lead to fiscal tightening and hiring freezes. Currently, those losing their jobs are finding it more challenging to swiftly secure new positions, potentially leading to a further loosening of the labor market." Throughout the year up to October, employers have announced 1,099,500 job cuts—this represents the highest year-to-date tally since the pandemic and a 44% increase from the 761,358 cuts throughout all of 2024. To date, the government sector has reported the most layoffs (307,638), followed by the technology sector (141,159).