US employers announced 43,994 job cuts in October 2026, up 2% from September but down 71% from a year earlier, according to Challenger, Gray & Christmas. The total was the lowest for an October since 2023 and marked the eighth month this year in which cuts fell below the corresponding month in 2025. Hiring plans picked up as companies prepared for the holiday-shopping season. Employers announced 617,189 cuts through October, down 44% year over year and the lowest year-to-date total through October since 2022. Food companies led October reductions with 9,677 cuts, followed by technology with 5,576 and services with 5,458. Technology remained the leading sector for year-to-date cuts, with 171,501, up 21% from a year earlier. Andy Challenger said employers were retaining existing workers while relying on short-term seasonal hiring to meet holiday demand without adding permanent headcount. Companies had previously announced more than 470,000 seasonal hires through October, including 300,000 planned positions at Amazon and 100,000 at UPS.