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US October Job Cuts Surge to Record Levels Amid Tech Layoffs
U.
U.S. job cuts in October soared 183% sequentially to 153,074, marking the highest level since 2003. Technology companies accounted for a significant portion of layoffs as AI integration and automation drove workforce restructuring. Analysts noted that 2025 is on track to see the highest annual job cuts since 2009.
Sectors like software development, cloud services, and digital platforms experienced the most impact. Investors are monitoring these developments closely, as elevated unemployment could weigh on consumer spending and economic growth. Policy responses from the Federal Reserve are expected to influence market sentiment in the coming months.