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.

More than 1 million people have lost their jobs already in 2025.

“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 freez...