Part 3/12:
A recent Challenger report underscores the severity of this trend. In October alone, US-based companies announced over 153,000 job cuts, representing a staggering 175% increase year-over-year and nearly 183% month-over-month. This isn't an isolated phenomenon; it marks the highest October level of layoffs since 2003 and is indicative of a growing correction phase, especially following pandemic-era hiring booms.