Layoffs across the U.S. soared last month to more than 153,000, marking the worst October for job reductions in 22 years, according to outplacement firm Challenger, Gray & Christmas.

Employers have announced early 1.1 million job cuts this year, the most through October since 2020, when pandemic shutdowns sent unemployment soaring.

The labor market has shifted from a " no hire, no fire " environment — when employees enjoyed job security despite slower hiring — to one where companies are cutting costs and reducing staff as they lean on AI to replace human workers.

"October's pace of job cutting was much higher than average for the month," Andy Challenger, a workplace expert and chief revenue officer for Challenger, Gray & Christmas, said in a statement.

He added, "Some industries

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