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.
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.
In November, Verizon’s announcement 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.
Tariffs were cited as the driver 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.
“Layoff plans fell last month, certainly a positive sign. That said, job cuts in November have risen
