U.S. companies let go more than 153,000 employees

American companies laid off more than 153,000 employees last month, more than in any October for the past 22 Octobers, according to a report by Challenger, Gray and Christmas. The human resources firm stated, “This comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes.” These record layoffs are yet another indicator that the U.S. economy is dangerously unstable.