Nov. 6 (UPI) -- U.S. companies cut 153,074 jobs last month, the highest number of layoffs in the month of October since 2003, outplacement firm Challenger, Gray & Christmas said in a report released Thursday.
The figure represented a 175% increase over October 2024, which had 55,597 cuts, and a 183% increase over September 2025, which had 54,064 cuts. For the year, U.S. companies have cut 1.1 million jobs, a 65% increase from the first 10 months of 2024.
CNBC reported it's been the worst year for layoffs since 2009 during the recession.
Andy Challenger, chief revenue officer of the company, blamed the boom, in part, on changing technologies and general economic adjustments.
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