Layoff announcements top 1.1 million in 2025, the most since 2020 pandemic, Challenger says

US job cuts this year have topped 1 million, the most since 2020 when the COVID pandemic rocked the global economy. [music] According to consulting firm Challenger Gray in Christmas, layoff plans totaled 71,321 in November. Challenger said that's not as high as the massive cuts announced in October, but it still pushed the total so far this year to 1.17% [music] million, and that's 54% higher than the same 11-month period a year ago.The most cited reason for the November layoffs was restructuring, followed ...