Layoffs In 2025 Pass One Million As Restructuring, AI Shifts, And Tariff Pressures Drive Elevated Job Cuts Across Major Industries

Benzinga

U.S. employers have announced more than one million job cuts in 2025 as restructuring, AI adoption, and tariffs intensified layoffs. November saw 71,321 cuts, bringing the year’s total to 1.17 million — the highest since 2020 and 54% above last year. Verizon’s 13,000-plus reductions and AI-related cuts across tech led the surge, while tariffs drove more than 2,000 November layoffs. Planned hiring fell sharply to 497,151, down 35% from 2024.

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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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