\n<\/p>\n
A ‘Now Hiring’ sign is taped to the window of a business on Oct. 3, 2025 in Miami, Florida. <\/p>\n
Joe Raedle | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Announced job cuts from U.S. employers moved further ahead of 1 million for the year in November as corporate restructuring, artificial intelligence and tariffs have helped pare job rolls, consulting firm Challenger, Gray & Christmas reported Thursday.<\/p>\n
The firm said layoff plans totaled 71,321 in November, a step down from the massive cuts announced in October but still enough to bring the 2025 total up to 1.17 million. That total is 54% higher than the same 11-month period a year ago and the highest level since 2020, when the Covid pandemic rocked the global economy.<\/p>\n
In November, Verizon’s announcement<\/a> that it would slash more than 13,000 jobs helped drive the total. Tech companies, driven by innovations in AI, listed 12,377 reductions, pushing the sector’s 2025 total up 17% from a year ago. AI itself has been cited for 54,694 layoffs this year.<\/p>\n Tariffs were cited as the driver<\/a> of more than 2,000 cuts in November and nearly 8,000 year to date. The most-cited reason for the month was restructuring, followed by closings and market or economic conditions.<\/p>\n “Layoff plans fell last month, certainly a positive sign. That said, job cuts in November have risen Challenger also pointed out that since the financial crisis in 2008, companies have shifted away from end-year layoff announcements.<\/p>\n “It was the trend to announce layoff plans toward the end of the year, to align with most companies’ November offered some relief from the more than 153,000 cuts announced<\/a> in October, which was the highest total for the month in 22 years.<\/p>\n The numbers come with concerns rising over the state of the U.S. labor market.<\/p>\n ADP reported Wednesday that private employers cut 32,000 jobs<\/a> in November, the biggest decline in more than 2\u00bd years.<\/p>\n
above 70,000 only twice since 2008: in 2022 and in 2008,” said Andy Challenger, workplace expert and chief revenue officer at Challenger, Gray & Christmas.<\/p>\n
fiscal year-ends. It became unpopular after the Great Recession especially, and best practice dictated layoff plans would occur at times other than the holidays,” said Challenger.<\/p>\n