Layoffs Soar to Great Recession Levels as Companies Cut 1.1 Million Jobs this Year

October marks the worst month for job cuts since 2003, echoing 2008-style labor turmoil driven by A.I. and cost pressures.

Illustration by Abdelafatah Mukhtar

By Brian Daitzman

Layoffs in the United States have reached their highest level in more than a decade, signaling a turn in the labor market after years of remarkable resilience. New data from Challenger, Gray & Christmas, which tracks corporate workforce reductions, show that U.S. employers announced 1.1 million job cut…