November 2025 Layoffs Report: 71,000 Job Cuts as YTD Total Crosses 1.17 Million

November 2025 brought a temporary reprieve in the relentless wave of job cuts that has defined this year, with employers announcing 71,321 layoffs according to Challenger Gray & Christmas. While this represents a 53% decrease from October's staggering 153,074 cuts, the year-to-date total has now crossed 1.17 million job cuts, marking the highest annual total since the pandemic-era layoffs of 2020.

The November figure, though lower than the previous month, still exceeds November 2024 by 24%, underscoring that the current employment landscape remains significantly more volatile than last year. As we approach the end of 2025, the cumulative impact of these layoffs paints a sobering picture of workforce restructuring across American industries.

The Numbers Behind November's Decline

November's 71,321 job cuts mark a sharp monthly decline but must be understood in context. October's 153,074 layoffs were the highest single month in over two decades, driven by massive cuts in technology, manufacturing, and government sectors. November's reduction reflects a return to more typical seasonal patterns rather than a fundamental improvement in labor market conditions.

The year-over-year comparison reveals the ongoing challenge: November 2025's cuts are 24% higher than November 2024, continuing a trend of elevated layoffs that has persisted throughout 2025. With 1.17 million total job cuts announced through November, 2025 has already surpassed the full-year totals for every year between 2021 and 2024.

Year-to-Date: 1.17 Million and Counting

The milestone of 1.17 million job cuts through November represents more than just a number—it reflects fundamental shifts in how American companies are approaching workforce management. This total exceeds the entire year of 2024 by approximately 65%, and marks the highest annual layoff count since 2020's pandemic-driven workforce reductions.

Breaking down the year-to-date figures reveals several key patterns:

• • Q1 2025 (Jan-Mar): 496,812 job cuts, driven by post-holiday restructuring and early-year budget cuts
• • Q2 2025 (Apr-Jun): 247,000 job cuts, the lowest quarter of the year as companies paused major restructuring
• • Q3 2025 (Jul-Sep): 202,043 job cuts, continuing the summer lull in layoff announcements
• • Q4 2025 (Oct-Nov): 224,395 job cuts in just two months, with December data still pending

The quarterly breakdown reveals that while Q1 dominated the year's total cuts, Q4 is shaping up to be the second-highest quarter, with December data likely to push the final 2025 total well above 1.2 million.

Sector Analysis: Who's Still Cutting?

While November saw an overall decline in layoffs, certain sectors continued to announce significant workforce reductions. The technology sector, which has been the primary driver of 2025's elevated layoff numbers, remained active in November with continued restructuring and AI-driven workforce optimization.

Government layoffs, which surged dramatically in Q1 2025 following the creation of the Department of Government Efficiency (DOGE), have moderated but continue to impact federal workforce numbers. The retail sector, traditionally active in November as companies adjust staffing ahead of the holiday season, announced fewer cuts than in previous months, suggesting some stabilization in consumer-facing industries.

Manufacturing layoffs persisted in November, driven by ongoing automation initiatives and supply chain adjustments. The pharmaceutical and healthcare sectors, which emerged as significant contributors to layoffs in mid-2025, continued their restructuring efforts, though at a slower pace than earlier in the year.

The December Question: Year-End Surge or Stabilization?

As December unfolds, the critical question is whether November's decline signals a genuine stabilization or merely a pause before year-end cuts. Historical patterns suggest December typically sees lower layoff announcements as companies delay major workforce actions until January, when new budgets take effect.

However, 2025 has defied many historical patterns. The combination of AI-driven workforce transformation, ongoing economic uncertainty, and the political changes following the 2024 election create conditions that could lead to either scenario. Several factors will influence December's final numbers:

• • Budget planning: Companies finalizing 2026 budgets may announce cuts in December to clear the books before year-end
• • Holiday timing: The compressed work schedule between Thanksgiving and New Year's may suppress announcements
• • AI implementation: Companies that have been piloting AI systems may announce workforce adjustments as these systems go live
• • Economic indicators: Any significant changes in interest rates, inflation, or consumer spending could trigger additional cuts

Our previous analysis predicted December would see 40,000-60,000 cuts, with a potential surge to 80,000-100,000 in January 2026 as companies implement new-year restructuring plans. November's lower-than-expected numbers support this forecast, suggesting companies are indeed delaying major announcements.

What This Means for Workers and Job Seekers

For the millions of workers affected by 2025's layoffs, November's decline offers little comfort. The 71,321 people who received layoff notices in November join the 1.1 million who preceded them this year, creating an unprecedented pool of displaced workers competing for available positions.

The job market's response to this surge in available talent has been mixed. While job openings increased modestly by 12,000 to 7.67 million in October, hiring remained essentially flat at 5.1 million, according to the latest JOLTS data. This disconnect between openings and hiring suggests employers are becoming more selective, taking longer to fill positions, or holding openings without actively recruiting.

For workers currently employed, November's data reinforces the importance of career resilience strategies:

• • Skill development: Focus on capabilities that complement rather than compete with AI, particularly in areas requiring human judgment, creativity, and relationship management
• • Financial preparation: Build emergency funds to weather potential job loss, aiming for 6-12 months of expenses given the extended time to find new employment
• • Network maintenance: Actively cultivate professional relationships before you need them, as networking remains the most effective job search strategy
• • Industry awareness: Monitor your sector's layoff trends and be prepared to pivot to growing industries if necessary

Looking Ahead: The 2026 Outlook

As 2025 draws to a close with 1.17 million job cuts already recorded, the question shifts to what 2026 will bring. Several factors suggest the elevated layoff environment may persist into the new year:

First, the AI transformation driving many 2025 layoffs is accelerating, not slowing. Companies that have successfully implemented AI systems are expanding their use, while those that haven't are under pressure to catch up. This technological shift will continue to reshape workforce requirements across industries.

Second, economic uncertainty remains elevated. While recession fears have moderated, with Wall Street Journal economists estimating a 33% probability of recession in the next 12 months, the risk hasn't disappeared. Any economic downturn would likely trigger additional layoffs beyond those already planned.

Third, the political and regulatory environment continues to evolve. The incoming administration's policies on government efficiency, business regulation, and economic management will influence corporate workforce decisions throughout 2026.

However, there are also reasons for cautious optimism. The unemployment rate has remained relatively stable at 4.4%, suggesting the economy is absorbing many displaced workers. Certain sectors, particularly healthcare, continue to add jobs at a robust pace. And the very companies announcing layoffs are often simultaneously hiring in other areas, indicating workforce transformation rather than wholesale contraction.

Conclusion: A Temporary Pause in a Longer Trend

November 2025's 71,321 job cuts represent a welcome decline from October's record-breaking numbers, but they don't signal an end to the elevated layoff environment that has characterized this year. With 1.17 million total cuts through November, 2025 has already established itself as the most challenging year for American workers since the pandemic.

The coming months will be critical. December's data will reveal whether November's decline was a genuine turning point or merely a seasonal pause. January 2026 will show whether companies delayed restructuring announcements or genuinely reduced their workforce reduction plans.

For now, workers, job seekers, and employers must navigate an environment of continued uncertainty, where traditional employment patterns are being reshaped by technological change, economic pressures, and evolving business strategies. The only certainty is that the employment landscape of 2026 will look significantly different from what came before.

Data Sources

• • Challenger Gray & Christmas Job Cut Report, November 2025
• • U.S. Bureau of Labor Statistics JOLTS Report, October 2025
• • theNumbers.io proprietary layoff database
• • Wall Street Journal Economic Forecasting Survey