U.S. employers announced 43,994 planned job cuts in October, 71% fewer than a year earlier and the lowest October total since 2023, as plans for seasonal hiring rose before the holidays.
The figures, compiled by Challenger, Gray & Christmas, were 2% higher than September’s 43,281 announcements. They were below the October average of 56,348 from 2015 to 2025. Through October, employers had announced 617,189 cuts, 44% fewer than in the same period of 2025.
That was the lowest total announced through October at that point in the year since 2022. Food companies led October’s cuts with 9,677, followed by technology firms with 5,576 and service companies with 5,458. The monthly figures count announced plans to cut jobs, not layoffs that have already happened.
Technology remained the largest source of job cuts across the year. Technology firms had announced 171,501 cuts through October, up 21% from a year earlier. Those cuts made up 28% of the national total.
Challenger said employers were keeping their existing staff while relying on short-term seasonal work to meet holiday demand. Seasonal hiring plans through October rose 26%, led by Amazon’s announcement of holiday-season roles. Microsoft’s October offers of voluntary exits to 60,000 employees were not included in the cut tally.