US-based employers announced 71,321 job cuts in November 2025, the highest for the month since 2022, compared to 57,727 a year earlier, and marking the eighth time this year job cuts were higher than the corresponding month one year earlier. However, layoffs fell from 153,074 in October which was the highest for an October month since 2003. Most cuts were announced by telecommunication providers (15,139), primarily from Verizon, followed by tech (12,377), food companies, particularly those that handle beef products (6,708), services (5,509), and retailers (3,290). Restructuring was the leading reason for job reductions, totaling 20,217. Through November, employers have announced 1,170,821 job cuts, an increase of 54% from the 761,358 announced in the first eleven months of last year. Year-to-date job cuts are at the highest level since 2020. Meanwhile, US employers have announced 9,074 hiring plans in November 2025, the least in three months.