Challenger: U.S. layoffs hit 1.1 million
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Outplacement firm Challenger, Gray & Christmas reports U.S. employers announced 1.1 million job cuts through November 2025, up 54% from the same period in 2024 and the highest since 2020. Tech led with 153,536 layoffs and retail 91,954, while the report cites major drivers including roughly 300,000 cuts from the federal Department of Government Efficiency (DOGE), market conditions, closures, restructuring, AI and tariffs; ADP separately said private payrolls fell by 32,000 in November, driven by small firms.
U.S. Economy
Labor Market