Corporate Layoffs

Challenger, Gray & Christmas reports U.S. employers announced 71,321 planned job cuts in November 2025, up 24% year over year and only the second November since 2008 to top 70,000, suggesting companies are less reluctant to fire during the holidays. Axios cites Verizon’s 13,000 layoffs announced a week before Thanksgiving and Wells Fargo’s CEO warning of more cuts and higher severance this quarter, while economists point to tariff and inflation pressures and expect January layoffs to climb as seasonal hiring ends.