Employers in the U.S. announced a significant decrease in layoffs in November, with planned cuts dropping by 53% from October to a total of 71,321. However, there was little indication of companies looking to hire more workers, highlighting a cautious approach to the labor market due to soft demand, tariff pressures, and increasing operating costs. This data was provided by global outplacement and executive coaching firm Challenger, Gray & Christmas. Although the November layoffs were 24% higher than the previous year, it was still the largest November total since 2022. Andy Challenger, workplace expert and chief revenue officer for the firm, commented that while the decrease in layoff plans was a positive sign, the number of job cuts in November exceeding 70,000 has only occurred twice since 2008, in 2022 and 2008. In 2025, layoffs significantly surpassed hiring numbers through the first 11 months of the year.