US Posts Most October Layoffs in More Than 20 Years

Job Cuts Analysis - October job cut announcements reached 153,074, the highest since 2003 [1] - Job cuts increased by 183% compared to September [1] - Job cuts increased by 175% year-over-year [1] - Year-to-date job cuts are the highest since June 2020 (COVID period) [2] - Job cut data is compiled from companies' announced plans, not actual realized cuts [2][3] Hiring Trends - Announced seasonal hiring plans are the lowest since tracking began in 2012 [4] Considerations - Job cut announcements may not always translate into actual job losses due to attrition [3] - Job cuts can take months to materialize, as seen with Amazon's 90-day notice [3] - Job cut figures are worldwide, not limited to the U S [3]