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1.1 million
Companies said they laid off 153,074 employees last month, the most since 2003, according to a report the consulting firm Challenger, Gray and Christmas published yesterday. That’s nearly triple the number of jobs cut in September, and it puts the total for the year through October at almost 1.1 million jobs lost—44% more than in all of 2024. Most of October’s redundancies came from just two industries. Warehouses were the biggest job cutters last month with 48,000 layoffs, followed by 33,000 in tech. Amazon, UPS, Paramount, and Target were just some corporate names that announced layoffs last month.
205%
Layoffs across the U.S. surged 205% in March when compared with a year earlier, with last month’s 275,240 job cuts fueled by widespread firings engineered by billionaire Elon Musk’s Department of Government Efficiency, or DOGE, according to outplacement firm Challenger, Gray & Christmas. reports CBS. March’s layoffs represent the third-highest monthly total ever recorded, Challenger said. The two previous highest monthly totals were recorded in April 2020 and May 2020, when more than 671,000 and 397,000 job cuts, respectively, were recorded, due to the pandemic shuttering the U.S. economy, according to its data.
172,000
The U.S. had ~172,000 layoffs in February, up 245% from January and the most in a single month since the Covid pandemic in 2020, according to a report from Challenger, Gray & Christmas. That’s also the most job cuts in the month of February since 2009, during the financial crisis. More than a third of those layoffs (~62,000) came from the Department of Government Efficiency’s federal headcount reduction. But it wasn’t just federal workers who were laid off: Retail was also hit hard, losing nearly 40,000 roles. Per CNBC, the sector has lost six times more jobs so far this year than it did in the same period last year.
