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Layoffs introduced by employers declined on a month-to-month foundation in November however nonetheless pushed the 2025 complete to the very best degree because the wave of pandemic-induced layoffs in 2020, new knowledge from Challenger, Grey & Christmas reveals.
The report discovered that U.S. employers introduced 71,321 layoffs in November — down 53% from the 153,074 cuts introduced in October.
Layoffs within the month of November have been up 24% from the 57,727 cuts introduced in that month final 12 months, and reached their highest degree for the month since 2022, which marked the eighth time this 12 months that job cuts in a given month have been greater than the corresponding month a 12 months in the past.
“Layoff plans fell final month. Actually a constructive signal. That mentioned, job cuts in November have risen above 70,000 solely twice since 2008: in 2022 and in 2008,” mentioned Andy Challenger, office skilled and chief income officer for Challenger, Grey & Christmas.
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Challenger, Grey & Christmas reported that layoffs slowed in November, though the 2025 complete thus far is the very best because the pandemic. (David Paul Morris/Bloomberg by way of Getty Photos)
Traditionally, job cuts in November have been beneath 70,000 from 1993 till 2000, then the recession 12 months of 2001 pushed the cuts that month to greater than 181,000, in response to the agency’s monitoring. Layoffs in November remained elevated till 2009 and stayed beneath 200,000 till the pandemic.
“It was the pattern to announce layoff plans towards the tip of the 12 months, to align with most firms’ fiscal year-ends. It grew to become unpopular after the Nice Recession particularly, and finest follow dictated layoff plans would happen at occasions apart from the vacations,” Challenger mentioned.
Employers have introduced 1,170,821 job cuts this 12 months by means of November, a rise of 54% from the 761,358 introduced within the first 11 months of 2024.
Yr-to-date job cuts have reached the very best degree since 2020, when there have been 2,227,725 cuts introduced by means of November amid the COVID-19 pandemic.
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This 12 months marks the sixth time since 1993 that year-to-date job cuts by means of November have topped 1.1 million, Challenger discovered. The variety of layoffs by means of November is the fifth highest since 1993.
Aside from 2020, the very best complete for cumulative layoffs introduced by means of November of a given 12 months was 1,956,876 in 2001, which was additionally a recession 12 months, whereas 2002 noticed 1,373,906. One other recession 12 months, 2009, noticed 1,242,936 layoffs, in response to Challenger’s monitoring.
Telecommunications was the trade with essentially the most layoffs introduced in November as 15,139 job cuts have been introduced, primarily from plans introduced by Verizon. That is the very best month-to-month complete for the sector since April 2020, when 16,552 layoffs have been introduced, and thus far in 2025 the sector has introduced 38,035 layoffs – a rise of 268% from final 12 months.
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The tech sector has introduced essentially the most layoffs thus far in 2025 by means of November. (Joe Raedle/Getty Photos)
The tech sector introduced 12,377 layoffs final month, which pushed the 2025 complete to 153,536, up 17% from final 12 months.
Meals firms, significantly these within the beef trade, introduced 6,708 cuts in November. That brings the cumulative 2025 complete to 34,165, a rise of 26% from final 12 months.
Firms within the companies sector introduced 5,509 cuts in November, bringing their complete for the 12 months to 69,089, up 64% from a 12 months in the past.
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Retailers minimize 3,290 job cuts in November, and the sector has seen 91,954 layoffs introduced this 12 months, which is up 139% from 2024.
