The taboo against holiday layoffs is fading.

"Where it stands: The data is anecdotal at the moment - we still don't have official employment numbers from November - but there are some red flags. Job cuts this November were up 24% from the same time a year ago, per private market layoff data from Challenger, Gray and Christmas. Private employers announced71,321 planned cuts. That's lower than the October number, but only the second time since the 2008 financial crisis that cuts have been above 70,000 in November. (The other time was 2022.)"

"What they're saying: The Challenger data suggests that employers are diverging from the norm of fewer firings during the holidays, ZipRecruiter labor economist Nicole Bachaud tells Axios. "Throughout the year, employers have been tightening their belts to protect their bottom lines amid rising costs from tariffs and broader inflation pressures. That might cause more businesses to forgo the typical pre-holiday pause in reductions," she says. "Stigma may not be as much of a factor as it has been previously, given the uncertainty in the macro environment.""

Job cuts in November rose 24% year-over-year, with private employers announcing 71,321 planned cuts, marking only the second November above 70,000 since 2008. Employers are foregoing the usual holiday pause in firings as businesses tighten budgets amid tariffs and inflationary pressures. The stigma around layoffs has lessened while hiring rates remain low, giving employers renewed leverage and leaving workers with fewer options. Several large firms announced or expect further reductions, including Verizon's 13,000 layoffs and Wells Fargo's anticipated cuts and higher severance costs.

Read at Axios