U.S. Job Cuts Surpass 1M in 2025, Chemical Industry Feels Impact

Cost pressures, AI adoption and automation contributed to a surge in workforce reductions, with chemical companies reporting notable job losses through October.

Nov. 7, 2025

2 min read

Job cuts, employee layoffs, firings or downsizing. Scissors dividing individuals positioned on colorful blocks

U.S.-based employers announced 153,074 job cuts in October, up 175% from the 55,597 cuts announced in October 2024 and the highest total for the month since 2003, according to a report from global outplacement and executive coaching firm Challenger, Gray & Christmas. Year-to-date, companies have announced 1,099,500 cuts, a 65% increase from the 664,839 announced through October 2024.

“The pace of job reductions in October was significantly higher than average for the month,” Andy Challenger, chief revenue officer at Challenger, Gray & Christmas, said in a statement. “Some industries are adjusting after the hiring surge during the pandemic, while AI adoption, softening consumer and corporate spending, and rising costs continue to drive cost-cutting and hiring freezes.”

Technology, warehousing and retail sectors accounted for the largest increases, with AI cited as a contributing factor in 31,039 job cuts across all industries in October. Cost-cutting was cited in 50,437 reductions, while economic and market conditions contributed to another 21,104.

The chemical industry has also been affected, with 2,800 job cuts reported through October, compared to 1,588 in the same period last year, according to the report. Meanwhile, hiring plans for the chemical sector totaled 823 year-to-date, indicating slower workforce growth compared with prior years.

_{This piece was created with the assistance of generative AI tools and was edited by our content team for clarity and accuracy.}