Announced layoffs by U.S. employers pushed the year’s total further past 1 million in November, as companies trimmed payrolls amid restructuring, growing use of artificial intelligence, and tariff pressures, consulting firm Challenger, Gray & Christmas reported Thursday.
Year-to-date job cuts are at their highest since the COVID-19 pandemic in 2020 when 2.2 million layoffs were recorded.
“Layoff plans fell last month, certainly a positive sign. That said, job cuts in November have risen above 70,000 only twice since 2008: in 2022 and in 2008,” said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.
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