Announcements of layoffs in the United States recorded the highest number since 2020, with a total of 1.17 million cuts so far this year, after a November that added more than 70,000 dismissals, according to a report by the specialized employment consulting firm Challenger, Gray & Christmas.
This November, layoff plans reached 71,321, a reduction compared to October, but enough to exceed one million cuts in the US in 2025, says the report, published this Thursday.
These 1.17 million layoffs from January to November 2025 represent an increase of 54% compared to the same period last year, and constitute the highest number since 2020, the year in which the covid-19 pandemic shook the global economy.
Last month, layoffs in the U.S. labor market rose to more than 150,000, the highest October figure since 2003.
Of the more than 70,000 layoffs this November, Verizon announced more than 13,000 cuts, while tech companies also recorded more than 12,000 layoffs.
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The main reasons cited were restructuring (20,000 layoffs), closures (17,000 layoffs) and market conditions (150,000 layoffs), while other factors included artificial intelligence (6,000 layoffs) and tariffs (2,000).
Hiring prospects have also been lower, reaching their lowest point since 2010 this year, according to the Challenger report.
Companies have announced nearly 500,000 planned hires, 35% less than in the same period in 2024.
“Layoff plans fell last month, certainly a positive sign. But cuts in November have exceeded 70,000 for the second time since 2008: in 2022 and this year,” said Andy Challenger, labor expert and chief revenue officer at the firm.
“It was a trend to announce layoff plans toward the end of the year, to align with the fiscal shutdown of most companies. It became unpopular especially after the Great Recession, and best practice dictated that layoff plans would occur at times other than the holidays,” he added.
With information from EFE.
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