Layoff announcements soared in October as companies recalibrated staffing levels during the artificial intelligence boom, a sign of potential trouble ahead for the labor market, according to outplacement firm Challenger, Gray & Christmas.

Job cuts for the month totaled 153,074, a 183% surge from September and 175% higher than the same month a year ago. It was the highest level for any October since 2003. This has been the worst year for announced layoffs since 2009.

"Like in 2003, a disruptive technology is changing the landscape," said Andy Challenger, workplace expert and chief revenue officer at the firm. "At a time when job creation is at its lowest point in years, the optics of announcing layoffs in the fourth quarter are particularly unfavorable."

The report provides a glimpse int

See Full Page