New Delhi, Nov. 7 -- Layoffs in the United States have accelerated dramatically in October, indicating that 2025 job cuts have reached levels typically seen during recessions, according to newly released data from Challenger, Gray & Christmas, a private firm that tracks workplace reductions.

US employers have announced 1.1 million layoffs so far this year - the largest since the pandemic recession in 2020 and on par with the extensive jobs cuts observed during the Great Recession of 2008 and 2009.

This sharp increase is fueling growing concerns about a significant slowdown in the labour market as big companies like UPS, Amazon and Target have already cut multiple jobs across their business units.

Employers have pointed to cost-cutting ...