'Mega-Layoffs' Under Trump as Corporations Have Cut 1 Million Jobs This Year—Most Since 2003 | Common Dreams
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US labor market in downward spiral with record job cuts in October 2025. Tech sector hit hardest, AI adoption driving layoffs. Dems blame Trump's policies.

“Trump put billionaires in charge of everything,” said progressive Congressman Greg Casar. “It’s a disaster.”

The US labor market, which in recent months had ground nearly to a halt, now appears to be entering a downward spiral.

As reported by the Washington Post on Thursday, new data from corporate outplacement firm Challenger, Gray & Christmas found that employers in October announced 153,000 job cuts, which marked the highest number of layoffs in that month since October 2003.

Total announced job cuts in 2025 have now reached 1.1 million, a number that the Post describes as a “recession-like” level comparable to the steep job cuts announced in the wake of the dotcom bust of the early 2000s, the global financial crisis of 2008, and the onset of the Covid-19 pandemic in 2020.

  • Mister Neon@lemmy.world
    2·
    22 days ago

    Trump and Musk took my job. I can’t spend money. The people who relied on my business have less money. There was no program or process for the laid off people to find new jobs.

    The math isn’t hard to figure out.

      • Mister Neon@lemmy.world
        2·
        22 days ago

        I was a UI/UX Designer and Frontend Developer working on a federal government contract for four years creating web apps to be used as internal facing tools. The contract got an extension and my company was a shoe in for the follow up contract for further development and maintenance.

        Trump won and we were informed that the contract extension was revoked, the new contract terms were drastically changed, and the bid was denied without reason.

        I’ve been skipping meals since May.

        • blazeknave@lemmy.world
          1·
          22 days ago

          Big 3 firm doge cuts to contracts, couldn’t justify acquiring us anymore mid-deal. Stood to have my first proper exit after 20 years, and finally almost put a down payment on a starter home at middle age. I have more ways this has fucked me in business, but you get the point. This isn’t even capitalism.

    • NABDad@lemmy.worldEnglish
      1·
      22 days ago

      I’m guessing we can’t be in a recession because the people who collect the data that we use to determine when we’re in a recession have all been fired.

      • diablexical@sh.itjust.works
        1·
        22 days ago

        We’re not in a recession because imports are subtracted from GDP. Since Imports have plummeted with tariffs, gdp data gives the false impression of a growing economy. Had imports been unchanged we would’ve had negative GDP reported.