Layoffs in October hit highest level for month in 22 years as companies cite cost-cutting, AI

U.S. employers ramped up layoffs in October to the highest level for the month in 22 years as companies looked to cut costs and adopt artificial intelligence (AI).A report from the global outplacement firm Challenger, Gray & Christmas found that employers cut 153,074 jobs in October, an increase of 175% from the 55,597 cuts announced in October 2024. It also marks a 183% increase from the 54,064 job cuts announced in September."October's pace of job cutting was much higher than average for the month. Some industries are correcting after the hiring boom of the pandemic, but this comes as AI