Layoff announcements decreased from October to November, yet the overall number of job cuts so far in 2025 has climbed to its highest point since the widespread pandemic layoffs of 2020, according to new data from Challenger, Gray & Christmas.

The firm reported that U.S. employers disclosed 71,321 layoffs in November, a 53% drop from the 153,074 cuts announced in October.

However, November’s total was still 24% higher than the 57,727 layoffs recorded in the same month last year, marking the highest November figure since 2022. It also represents the eighth month in 2025 in which job cuts surpassed the same month in the prior year.

“Layoff plans fell last month. Certainly a positive sign. That said, job cuts in November have risen above 70,000 only twice since 2008: in 2022 and in 2008,”

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