Startling statistic, likely the start of a trend.
“U.S.-based employers cut more than 150,000 jobs in October, marking the biggest reduction for the month in more than 20 years, a report by Challenger, Gray & Christmas said on Thursday as industries adopt AI-driven changes and intensify cost cuts.”
https://www.reuters.com/business/world-at-work/layoffs-us-october-surge-two-decade-high-challenger-data-shows-2025-11-06/
I just posed all of USAA's PERM job postings on JOBS.NOW
Now nobody at USAA it getting a green card LOL
With this government shutdown it will be interesting how badly USAA is impacted, since most of our deposits, payments, insurance, etc comes from a government source. Seems like a house of cards that could collapse pretty quickly, especially since we’ve become so obsessed with profitability
Other companies have been a little loud about it NOT being AI though. And have been saying the quiet part out loud. That in reality they over hired and hoarded employees during pandemic and post pandemic. This new self-imposed crisis and just a new excuse for companies to shed weight. When you couple that tariffs wrecking havoc on cost of goods, it shrinks their ability to pay employees, especially when cheap labor isn’t available from immigrants. Yes AI is impacting some jobs. And some companies have over embraced AI, but dig deep into those companies that have done so, they have reversed course on their hiring, and they are almost back at square one. But companies that are prebuilt, institutional, are having almost an impossible time implementing AI.
I think USAA is done with layoffs for the year, but unfortunately our genius of a bank president, Mike Mor0n all but guaranteed mass layoffs early next year. It wouldn’t shock me at all if they change the bonus payout to not include those given 60 days notice.
https://www.forbes.com/sites/maryroeloffs/2025/11/06/more-than-1-million-jobs-have-been-cut-this-year-report-says/
(A million jobs have been lost this year alone). This isn’t the beginning of a trend. The trend has been here almost all year. Many analysts think that it will be 1.5 million before the end of the year.