India, Nov. 9 -- U.S.-based employers announced 153,074 job cuts in October, up 175% from the 55,597 layoffs reported in October 2024 and 183% higher than the 54,064 cuts announced in September, according to a report released by global outplacement and executive coaching firm Challenger, Gray & Christmas.

"October's pace of job cutting was much higher than average for the month," said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas. "Some industries are correcting after the hiring boom of the pandemic, but this comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes. Those laid off now are finding it harder to quickly secure ne...