A 2025 report from the outplacement firm Challenger, Gray & Christmas found that U.S. businesses announced plans to cut 153,074 jobs in October 2025, which the firm described as the worst October for announced cuts in more than two decades.
November 07, 2025
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Challenger, Gray & Christmas tracks announced corporate layoff plans and reports monthly totals of planned job cuts.
A 2025 forecast by Challenger, Gray & Christmas projected that overall U.S. holiday hiring for the last three months of 2025 would likely be under 500,000 positions, lower than the 543,000 seasonal hires reported for 2024 and representing the smallest seasonal gain since 2009 when retailers hired 495,800 temporary workers.
October 13, 2025
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Forecast and historical comparison of U.S. seasonal retail hiring levels.
Challenger, Gray & Christmas reported that announced job cuts surged 175% in October 2025 compared with October 2024.
October 01, 2025
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Year-over-year change in announced job cuts as reported by an outplacement firm.
Challenger, Gray & Christmas reported that U.S. employers cut nearly 950,000 jobs through September 30, 2025, the largest number of layoffs since 2020.
September 30, 2025
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Aggregate layoff data from Challenger, Gray & Christmas through September 2025.
Challenger, Gray & Christmas identified AI adoption, softening consumer and corporate spending, and rising costs as drivers that prompt companies to cut costs, implement hiring freezes, and reduce staff.
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Commonly cited economic and technological factors associated with increased layoffs and reduced hiring.