The U.S. saw an unsettling spike in announced layoffs this October, reaching levels not seen in 22 years. According to new data from Challenger, Gray & Christmas, companies cut 153,074 jobs last month—an increase of 183% from September and 175% higher than October of last year. It’s the largest number of cuts for any October since 2003 and adds to what has become the worst year for layoffs since 2009.

Outplacement firm executive Andy Challenger attributes much of the disruption to the rapid reshaping of industries brought on by artificial intelligence. He notes that, much like in 2003, a transformative technology is forcing companies to rethink how they operate and the staffing levels they need. The timing doesn’t help: job creation is already at its lowest point in years, and announcing

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