Report: As October ended, job losses in 2025 exceeded 1 million

With only two months left in 2025, over 1 million people have lost their jobs in the US.

As reported by the analytics firm Challenger, Gray, and Christmas, the total exceeds the industry’s total of 761,358 employees laid off in 2024.

The report found that October saw a record number of job losses and job-cut plans by companies.

https://www.challengergray.com/wp-content/uploads/2025/11/Challenger-Report-October-2025.pdf

Stats:

• October 2025: 1,099,500 people are now without work
• By comparison: 761,358 employees became jobless throughout 2024

Challenger, Gray, & Christmas also provided data on the industries leading the way in shedding headcount.  

Stats for industries that had the most layoffs for the 2025 year to date

• Tech - 2025 Year to date: 141,159
• Warehousing: 2025 Year to date: 90,418 jobs
• Retail - 2025 Year to date: 88,664
• Service: 2025 Year to date: 63,580
• Nonprofit: 2025 Year to date: 27,651
• Media and News: 2025 Year to date: 16,680 

The primary reason for layoffs throughout 2025 was DOGE, which was cited as the reason for cutting individuals from the Federal workforce.

“DOGE Impact remains the leading reason for job cut announcements in 2025, cited in 293,753 planned layoffs so far this year. This includes direct reductions to the Federal workforce and its contractors. An additional 20,976 cuts have been attributed to DOGE Downstream Impact, which reflects the loss of federal funding to private and non-profit entities,” said the analytics firm.

Additionally, for October, the report notes that cost-cutting was the leading reason for layoffs, followed by AI.

While the number of people who have lost their capital is noticeable, it should be emphasized that this figure reflects announced job cuts. The total number of job cuts would, understandably and unfortunately, be a very concerning fact.