October 2026 Job Cuts Report

NATIONWIDE — U.S. employers announced 43,994 job cuts in October 2026, the lowest October total since 2023, while seasonal hiring plans for the year reached 470,400, up 26% from last year. Those are the headline numbers from the October job cuts report Challenger, Gray & Christmas released on Thursday, November 5.

Announced layoffs stayed low in October and holiday hiring plans are running well ahead of 2025, but nearly all of that hiring comes from two companies, and most of it is seasonal.

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📊 What the October Job Cuts Report Says

Challenger, Gray & Christmas, the outplacement firm, counts the job cuts and hiring plans that U.S. employers announce each month. Its figures are announcements, not a count of layoffs that actually happened, and they are not seasonally adjusted. That makes them a useful early read on employer intentions rather than a replacement for the government's payroll data.

Announced job cuts, October 2026	43,994
Change from September 2026 (43,281)	Up 2%
Change from October 2025 (153,074)	Down 71%
Announced cuts, January–October 2026	617,189, down 44% from 1,099,500 a year earlier
Announced hiring plans, October 2026	444,692, up 57% from October 2025
Seasonal hiring plans, 2026 to date	470,400, up 26% from 372,520 in 2025

Challenger said October's total sits below the firm's 2015–2025 average for the month and marks the eighth month this year with fewer announced cuts than the same month in 2025. The year-to-date total is the lowest for January through October since 2022. October's 444,692 announced hiring plans were the highest for the month since at least 2009, according to the firm.

"This is a low-fire environment," said Andy Challenger, the firm's chief revenue officer. He added that companies want room to meet holiday demand without adding permanent headcount, which is the thread running through the whole report.

Which Industries Cut the Most in October

Food companies led October with 9,677 announced cuts, their highest monthly total of 2026. Technology, which has led the year, posted its lowest month so far.

Industry	October 2026 cuts	January–October 2026
Food	9,677	39,370 (up 43%)
Technology	5,576	171,501 (up 21%)
Services	5,458	35,542 (down 44%)
FinTech	4,173	11,979 (up 543%)
Retail	3,692	18,126 (down 80%)
Consumer Products	3,672	34,324 (down 16%)

Year-to-date changes are against January through October 2025, as reported by Challenger. Technology's 171,501 cuts so far already top its full-year 2025 total and make up about 28% of all announced cuts this year. Challenger also noted that voluntary exit packages Microsoft offered to employees in October are not counted in these totals.

Transportation is the other sector worth watching: its 44,838 announced cuts through October are up 188% from a year earlier. At the other end, 22 of the 30 industries Challenger tracks are below last year's pace, with government, retail and warehousing cuts all sharply lower.

By reason, "market and economic conditions" led October for a second straight month, cited in 16,407 cuts. Artificial intelligence was cited in 1,265 October cuts, its lowest monthly count this year, though it remains behind about 121,401 announced cuts in 2026.

By geography, the West accounted for 46% of October's cuts. California led the states with 10,032, followed by Washington with 7,233, New York with 4,671, Ohio with 4,592 and Michigan with 2,937.

💼 Seasonal Hiring Is Up, but Concentrated

The 470,400 seasonal hires announced through October rebound from 2025, which Challenger says was the weakest year since it started tracking seasonal plans in 2012. They remain below 2024's 660,150.

Two announcements carry most of it. Amazon plans to hire 300,000 seasonal workers, which Challenger calls the largest single seasonal announcement it has tracked, and UPS plans 100,000 after making no announcement in 2025. Only five companies had announced seasonal hiring plans this year by the end of October, compared with 11 at this point in 2025, according to the firm. Retailers announced 13,300 hiring plans in October.

The announcements also came late. Challenger found that September carried just 17% of September and October hiring plans this year, against at least 60% every year from 2012 to 2024. For job seekers, that means the holiday hiring window has run later than usual, and many postings went up in October rather than September.

🔎 What This Means For Your Search

Low announced layoffs and a later, heavier seasonal push point to a few practical moves this week:

Apply for seasonal roles now, not in December. The biggest employers announced in October, and holiday schedules fill as Thanksgiving approaches.
Treat seasonal as seasonal. Challenger's own read is that companies are choosing flexible headcount over permanent hires. Ask at the interview whether the role can convert, and keep searching for permanent work at the same time.
Look past warehouses. Package handling and delivery carry the biggest numbers, but retail, customer service and driver roles are part of the same holiday push.
If you work in tech, food or transportation, those are the sectors where announced cuts are up on last year. Keep your resume current and widen your search to adjacent roles.

🔎 Search Seasonal Jobs Now

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🗺️ Where to Look in Your City

These markets sit in the states Challenger named among October's or the year's heaviest announced cuts, so they are where a fast move into seasonal or permanent work matters most.

Not on the list? Find your city.

Frequently Asked Questions

How many job cuts were announced in October 2026?

U.S. employers announced 43,994 job cuts in October 2026, according to Challenger, Gray & Christmas. That was up 2% from September and down 71% from October 2025.

Is the Challenger report the same as the government jobs report?

No. Challenger counts layoffs and hiring plans that employers announce. The Bureau of Labor Statistics jobs report measures payroll employment and unemployment from surveys. The two often move together but measure different things.

Which industry had the most job cuts in October 2026?

Food companies, with 9,677 announced cuts. Technology still leads the year with 171,501 announced cuts from January through October.

How many seasonal workers are companies hiring for the 2026 holidays?

Challenger counted 470,400 announced seasonal hires through October 2026, up 26% from 2025. Amazon's 300,000 and UPS's 100,000 make up most of that total.

Is it too late to get a holiday job?

Not in early November. This year's big announcements came in October, later than usual. Apply now, though, because schedules fill quickly once Thanksgiving gets close.

Do seasonal jobs turn into permanent jobs?

Sometimes, but it is never guaranteed. Ask the employer directly whether seasonal workers can stay on after the holidays, and keep applying for permanent roles while you work.

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October 2026 Job Cuts Fall to a Three-Year Low as Seasonal Hiring Plans Climb 26%