Announcements imply future, not immediate, layoffs and unemployment claims.
Job Cuts Soar, Hiring Plans Plunge
Please consider Challenger, Gray & Christmas, Inc. Job Cut Announcement Report for November.
U.S.-based employers announced 71,321 job cuts in November, up 24% from the 57,727 job cuts announced in the same month last year. It is down 53% from the 153,074 cuts announced one month prior, according to a report released Thursday from global outplacement and executive coaching firm Challenger, Gray & Christmas.
November’s total is the highest for the month since 2022 when 76,835 job cuts were announced. It is the eighth time this year job cuts were higher than the corresponding month one year earlier.
“Layoff plans fell last month, certainly a positive sign. That said, job cuts in November have risen above 70,000 only twice since 2008: in 2022 and in 2008,” said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.
Through November, employers have announced 1,170,821 job cuts, an increase of 54% from the 761,358 announced in the first eleven months of last year. Year-to-date job cuts are at the highest level since 2020 when 2,227,725 cuts were announced through November. It is the sixth time since 1993 that job cuts through November have surpassed 1.1 million.
Numbers Through November (* indicates recession)
- 2020* 2,227,725
- 2001* 1,956,876
- 2002 1,373,906
- 2009* 1,242,936
- 2025 1,170,821
- 2003 1,143,406
Industries Cutting the Most in November
- Telecommunication: Telecommunication providers announced 15,139 job cuts in November, primarily on plans from Verizon. This is the highest monthly total since April 2020 when 16,552 layoffs were announced. So far this year, the sector has announced 38,035 layoff plans, up 268% from the 10,331 announced through the same period last year.
- Technology: Technology continues to lead in private-sector job cuts as Tech companies announced 12,377 in November. So far this year, these companies have announced 153,536 job cuts, up 17% from the 130,701 announced through November 2024.
- Food: Food companies, particularly those that handle beef products, announced 6,708 cuts in November. Year to date, the sector has cut 34,165 jobs, a 26% increase from the 27,060 cuts announced in the same period last year.
- Services: The Services sector, which includes companies that provide support to other businesses such as cleaning, staffing, and outsourcing firms, announced 5,509 job cuts in November, up from 1,990 in October. Year to date, the sector has announced 69,089 job cuts, up 64% from the 42,041 announced through November 2024.
- Retail: Retail companies announced 3,290 job cuts in November, up from 2,431 in October. For the year, the sector has announced 91,954 job cuts, up 139% from the 38,403 cuts announced during the same period in 2024, as companies adjust workforce levels amid softening demand, tariff uncertainty, and changing consumer preferences.
- Non-Profits: Non-profits continue to be impacted by Government funding cuts as well as rising costs and lower giving trends. These entities announced plans to cut 28,696 this year, an increase of 409% from the 5,640 announced by this point in 2024.
- Media & News Cuts: The Media industry has announced 17,163 cuts so far in 2025, up 18% from the 14,549 cuts announced in the first eleven months of last year. News, which Challenger tracks as a subset of Media and includes broadcast, digital, and print, has announced 2,254 job cuts so far this year, 179 of which occurred in November. For the year, News cuts are down 50% from the 4,537 cuts announced during the same period last year.
Hiring Plans
Through November, U.S. employers have announced 497,151 planned hires, down 35% from the 761,954 announced at this point in 2024. It is the lowest year-to-date total since 2010, when 392,033 new hires were planned through November.
Announcements Not Immediate
Challenger provides 13 pages of detailed reports and tables. Inquiring minds may wish to take a closer look.
Bear in mind these layoff announcements are not immediate. These November announcements impact future unemployment and unemployment claims.
Announcements through November total 1,170,821.
With one month to go, that’s the highest total since 1,228,030 at the end of the Great Recession in 2009 (not counting the Covid record of 2,304,755 in 2020).
Warn Notices
The Department of Labor discusses Warn Notices.
The WARN Act requires employers with 100 or more full-time employees (not counting workers who have fewer than 6 months on the job) to provide at least 60 calendar days advance written notice of a worksite closing affecting 50 or more employees, or a mass layoff affecting at least 50 employees and 1/3 of the worksite’s total workforce or 500 or more employees at the single site of employment during any 90-day period. Not all dislocations require a 60-day notice; the WARN Act makes certain exceptions to the requirements when employers can show that layoffs or worksite closings occur due to faltering companies, unforeseen business circumstances, and natural disasters. In such instances, the WARN Act requires employers to provide as much notice to their employees as possible.
Again, these November announcements, and some from October, impact future unemployment and unemployment claims.
The October-November total is 153,074 + 71,321 = 224,395.
Small Businesses Drop 120,000 Jobs in November, ADP Total Down 32,000
Please note Small Businesses Drop 120,000 Jobs in November, ADP Total Down 32,000
It’s another grim month according to ADP. Small Business employment declined by 120,000 in November.
No Surprise
None of this is a surprise. I have been discussing, and predicting this all year.
The tariff impact on small businesses is starting to take a big toll on small businesses.
Initial Unemployment Claims Plunge by 27,000. Is This Plausible?
Earlier today, I asked Initial Unemployment Claims Plunge by 27,000. Is This Plausible?
What Happened?
I suspect three things. First, the seasonal adjustments are messed up.
Second, the number of people eligible to file a claim is dropping. The self-employed have no benefits and cannot file. Tariffs hit small businesses and the self-employed disproportionately.
Third, immigrants (legal or not), are fearful of calling attention to being unemployed.
Those three things likely explain today’s seemingly preposterous number.
Regardless, my “adjusted continued claims” total tells a much more serious problem. See the above article for charts and explanation.
Finally, the Challenger and ADP numbers support my conclusions.
