Consulting firm Challenger, Gray & Christmas reported Thursday that job cuts from U.S. employers moved further ahead of 1 million for the year in November. This is due to corporate restructuring, artificial intelligence and tariffs helping pare job rolls. More than 71,000 job cuts in November, pushing the layoffs for 2025 to 1.17 million which is the highest level since the pandemic. Verizon announced that more than 13,000 jobs have been slashed driven by innovations in AI and tariffs were cited as a driver of 2,000 cuts. This number is much better than the 153,000 cuts announced in October, which was the highest total for the month in 22 years.
This firm also stated that companies since the 2008 financial crisis have been trending away from layoffs at the end of the year which is to try and keep layoffs away from the holiday season. As well, private payroll from ADP shows employers cut 32,000 in November which is the decline in more than two and a half years. While AI is clearly accelerating at a pace that industries cannot keep up with it will be interesting to see how they redefine job stability and how these industries will adopt over time.
https://www.cnbc.com/2025/12/04/layoff-announcements-this-year-top-1point1-million-the-most-since-2020-when-pandemic-hit-challenger-says.html
