Challenger US October Layoff Intentions Rise Modestly, Hiring Plans Jump on Amazon

05:36 AM EST, 11/05/2026 (MT Newswires) -- Outplacement firm Challenger, Gray & Christmas said Thursday that companies planned to cut 43,994 jobs in October, up from 43,281 in September but down from 153,074 in October 2025 and the lowest for an October report since 2023. The largest layoff counts in October were in the food, technology and services sectors, which announced 9,677, 5,576 and 5,458 cuts, respectively. The most cited reason for layoffs was market and economic conditions, which accounted for 16,047 of the monthly total, followed by business closings with 10,250 of the intentions. "This is a low-fire environment," said Andy Challenger, the company's chief revenue officer. "Employers are holding on to the workers they have heading into the holidays, and the hiring they are announcing is largely short-term, seasonal work. Companies want the flexibility to meet holiday demand without adding permanent headcount." There were 444,692 hiring plans announced in October, up sharply from the 90,787 hiring plans in September and from 283,138 a year ago. The technology sector accounted for 300,252 of the hiring total, mostly due to 300,000 hiring intentions announced by Amazon, helping this year to more tan catch up with last year's seasonal hiring after a weak September. "Seasonal employers are staggering their announcements and waiting longer to see how the season shakes out before they commit to numbers," said Challenger. "They are not cutting deeply, but they are not committing to permanent headcount, either. Seasonal roles give companies the capacity they need for the holidays with an end date built in."