U.S.-based employers announced 71,321 job cuts in November, up 24% from the 57,727 job cuts announced in the same month last year, and down 53% from the 153,074 cuts announced one month prior, according to a report released from Challenger, Gray & Christmas.
November’s total is the highest for the month since 2022 when 76,835 job cuts were announced, and reflects the eighth time this year job cuts were higher than the corresponding month one year earlier.
“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,” says Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.
Key takeaways:
· Technology continues to lead in private-sector job cuts as tech companies announced 12,377 in November. So far this year, these companies have announced 153,536 job cuts, up 17% from the 130,701 announced through November 2024.
· Food companies, particularly those that handle beef products, announced 6,708 cuts in November. Year to date, the sector has cut 34,165 jobs, a 26% increase from the 27,060 cuts announced in the same period last year.
· Retail companies announced 3,290 job cuts in November, up from 2,431 in October. For the year, the sector has announced 91,954 job cuts, up 139% from the 38,403 cuts announced during the same period in 2024, as companies adjust workforce levels amid softening demand, tariff uncertainty, and changing consumer preferences.
· In November, restructuring led all reasons with 20,217 for a total of 128,255 in 2025. Store, unit, or department closing accounted for 17,140 in November, and 178,531 for the year.
· Artificial intelligence (AI) was cited for 6,280 cuts in November. So far this year, AI is responsible for 54,694 layoff plans. Since 2023, when this reason was first cited, AI has led to 71,683 job cut announcements.
· Market and economic conditions were cited for 15,755 job cuts in November. So far this year, 245,086 job cuts have been attributed to market and/or economic conditions. Tariffs have been cited for 7,908 job cuts this year with 2,061 occurring in November.
· Though the Department of Government Efficiency (DOGE) has not been the cause of job cut announcements in two months, “DOGE Impact” remains the leading reason for job cut announcements in 2025, cited in 293,753 planned layoffs so far this year. This includes direct reductions to the Federal workforce and its contractors.
· An additional 20,976 cuts have been attributed to DOGE Downstream Impact, which reflects the loss of federal funding to private and non-profit entities.
· Through November, U.S. employers have announced 497,151 planned hires, down 35% from the 761,954 announced at this point in 2024, making it the lowest year-to-date total since 2010, when 392,033 new hires were planned through November.
