00:00It's Benzinga bringing Wall Street to Main Street.
00:03U.S. employers announced job cuts surpassed 1 million this year as restructuring,
00:07AI, and tariffs continued driving layoffs, according to CNBC.
00:12Consulting firm challenger Gray and Christmas reported that layoffs totaled 71,321 job cuts
00:19in November, bringing year-to-date layoffs to 1.17 million. The total is 54% higher than last
00:26year and the highest since 2020. Verizon's plan to cut more than 13,000 jobs and AI-driven
00:32reductions at tech companies helped push industry layoffs higher, with AI cited in 54,694 cuts
00:39this year. Tariffs drove more than 2,000 cuts in November, and restructuring remained the
00:45most common reason for job reductions. Challenger also noted that employers have announced 497,151
00:53planned hires this year, down 35% from 2024. For all things money, visit benzinga.com.
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