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.
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