US layoffs cross 1.1 mn, with tech sector cutting the most

US employers announced 1.17 million layoffs through November, up 54% from the same period in 2024, marking only the sixth time since 1993 that cuts topped 1.1 million so early in the year, per Challenger, Gray & Christmas. Tech led all sectors with 1,53,536 cuts, followed by retail at 91,954, services at 69,089, and telecom at 38,035, underscoring broad workplace pressures.