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Planned job cuts for October reached the highest level for the month in 22 years, and the highest for any month in the fourth quarter since 2008, new <a href="https://www.challengergray.com/blog/october-challenger-report-153074-job-cuts-on-cost-cutting-ai/" target="_blank" rel="nofollow noopener">data</a> released on Nov. 6 show.

Layoffs announced in October surged 175 percent from the same time a year ago to 153,074, according to global outplacement firm Challenger, Gray, and Christmas. This is also up 183 percent from September, when U.S.-based employers planned 54,064 job cuts.

Last month's tally was the highest level for any October since 2003 and the largest total for a single month since the fourth quarter of 2008.

In total, companies have announced 1,099,500 job cuts in the first ten months of the year—the highest level since 2020.

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October Marked Worst Month for Layoffs in 22 Years

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