🚨US layoffs are running at RECESSION levels:
US-based employers have announced 946,426 job cuts year-to-date, the most since the 2020 CRISIS.
This is the second-largest total since the Great Financial Crisis.
Over the last 36 years, only 4 years have seen higher layoffs.
US… pic.twitter.com/SRbFzvWzjP
— Global Markets Investor (@GlobalMktObserv) October 5, 2025
Employers across the U.S. cut nearly 950,000 jobs this year through September, the largest number of layoffs since 2020, according to outplacement firm Challenger, Gray & Christmas.
Job cuts could surpass more than 1 million in 2025, the group forecast. The layoffs this year, although elevated, remain well below the massive workforce reductions in 2020, when the pandemic shuttered businesses across the nation, leading to 2 million layoffs through September of that year, Challenger noted.
The rise in layoffs comes as the labor market has stalled in recent months, with employers also sharply scaling back their hiring plans, according to labor data. Companies now expect to bring on 58% fewer workers for the rest of the year compared with their projections a year ago, the firm found.
https://www.cbsnews.com/news/layoffs-2025-highest-level-since-2020-labor-market-jobs-report/