| Actual | Previous | |
|---|---|---|
| Level | 71,321 | 153,064 |
Highlights
The Challenger job cut intentions report for November sees a decrease of 53.4 percent to 71,321 from 153,074 in October but is up 23.5 percent compared to 57,727 in November 2024. While the month-over-month decline is significant, job cut plans are still far more prevalent for 2025 to date (1,170,821) than in the first eleven months of 2024 (722,566). While DOGE actions have accounted for a large number of job cuts (293,753), 2025 still shows a noticeable increase in job cut plans.
In November, all industries except utilities announced job cut intentions. The widespread announcements are led by telecommunications (15,139, or 21.2 percent of the total) and technology (12,377, or 17.4 percent of the total). The impact of AI continues as industries adopt new tools and adjust staffing needs.
Among reasons given for job cuts in November, nearly three-quarters were in three categories. The largest share of reasons given was in restructuring (20,217, or 28.3 percent of the total), followed by closing (17,140, or 24.0 percent) market/economic conditions (15,755, or 22.1 percent).
Hiring intentions drop to 9,074 in November compared to 283,138 in October and 117,313 in September when businesses announced their seasonal hiring plans. Hiring plans are down 21.9 percent from 11,621 in November 2024. The industries with the largest number of hiring intentions are pharmacy (1,266, or 14.0 percent of the total), automotive (1,250, or 13.8 percent), and utilities (1,030, or 11.4 percent).
In November, all industries except utilities announced job cut intentions. The widespread announcements are led by telecommunications (15,139, or 21.2 percent of the total) and technology (12,377, or 17.4 percent of the total). The impact of AI continues as industries adopt new tools and adjust staffing needs.
Among reasons given for job cuts in November, nearly three-quarters were in three categories. The largest share of reasons given was in restructuring (20,217, or 28.3 percent of the total), followed by closing (17,140, or 24.0 percent) market/economic conditions (15,755, or 22.1 percent).
Hiring intentions drop to 9,074 in November compared to 283,138 in October and 117,313 in September when businesses announced their seasonal hiring plans. Hiring plans are down 21.9 percent from 11,621 in November 2024. The industries with the largest number of hiring intentions are pharmacy (1,266, or 14.0 percent of the total), automotive (1,250, or 13.8 percent), and utilities (1,030, or 11.4 percent).
Definition
This monthly report counts and categorizes announcements of corporate layoffs based on mass layoff data from state departments of labor. The job-cut report must be analyzed with caution. It doesn't distinguish between layoffs scheduled for the short-term or the long term, or whether job cuts are handled through attrition or actual layoffs. Also, the job-cut report does not include jobs eliminated in small batches over a longer time period. Unlike most economic data, this series is not adjusted for seasonal variation.
Description
The job-cut report is basically a rehash of the weekly jobless claims report but provides additional insight into where layoffs are occurring. There is industry and geographic (states) detail that is not available with weekly jobless claims.
