Jake Starkey
Verified User
American workers and the work place are in big trouble.
According to Challenger, Gray & Christmas, employers announced 153,074 job cuts in October, a 175% rise from the 55,597 cuts announced in October 2024. The industries with the most cuts were warehousing, technology, retail and the service sector.
“Over the last decade, companies have shied away from announcing layoffs in the fourth quarter, so it’s surprising to see so many in October,” added Challenger.
In October 2003, 171,874 cuts were recorded nationwide.