FX.co ★ November US Job Cuts Remain Elevated

In November 2025, employers in the United States reported 71,321 job cuts, marking the highest figure for the month since 2022. This number represents an increase compared to the 57,727 job cuts recorded in the same month the previous year and signifies the eighth instance this year in which monthly job cuts surpassed those of the corresponding month from the prior year. Despite this, layoffs decreased from October’s count of 153,074, which was the largest number for an October since 2003. Telecommunications, primarily due to plans from Verizon, led the sectors with the most significant layoffs, announcing 15,139 job cuts. The technology sector followed with 12,377 cuts, then food companies, especially those involving beef products, at 6,708, services at 5,509, and retailers at 3,290. Restructuring was the primary reason for the job reductions in November, contributing 20,217 cuts. Cumulatively through November, employers have declared 1,170,821 job cuts, marking a 54% rise from the 761,358 job cuts reported over the first eleven months of the previous year. This year-to-date figure is the highest recorded since 2020. At the same time, U.S. employers revealed plans to hire 9,074 individuals in November 2025, marking the lowest monthly announcement in three months.