153,074 layoffs in October, the highest for that month in 22 years. Tech cuts up nearly 6 times. Earlier, the quit rate dropped to its lowest level since 2014.
Job cuts for October totaled 153,074, a 183% surge from September and 175% higher than the same month a year ago. It was the highest level for any October since 2003. Companies in the technology sector announced 33,281 cuts, nearly six times the level in September. “Like in 2003, a disruptive technology is changing the …