November 6, 2025
United States:
US Companies Announce Most October Job Cuts in Over 20 Years
US companies announced the most job cuts for any October in more than two decades as artificial intelligence reshapes industries and cost-cutting accelerates, according to data from outplacement firm Challenger, Gray & Christmas Inc.
Companies announced 153,074 job cuts last month, almost triple the number during the same month last year and driven by the technology and warehousing sectors. It’s the most for any October since 2003, when the advent of cellphones was similarly disruptive, said Andy Challenger, the company’s chief revenue officer.
Europe:
Bank of England Holds Rates at 4% and Tees Up December Cut
The Bank of England held interest rates at 4% in a tight vote that laid the groundwork for a December cut.
Five members of the Monetary Policy Committee voted to leave policy unchanged, with Governor Andrew Bailey swinging the decision, while four called for a quarter-point cut to 3.75%. The BOE said September inflation of 3.8% “is likely to be the peak.”
Asia:
Japan’s Wage Growth Stays Solid, Keeping BOJ on Rate Hike Path
Japan’s underlying wage growth remained steady in September, keeping the Bank of Japan on its policy tightening path as markets look for triggers for the bank’s next move.
Nominal wages rose 1.9% from a year earlier, accelerating from August, the labor ministry reported Thursday. It came in line with economist expectations. Base salaries increased at the same pace, while a more stable measure, which avoids sampling issues and excludes bonuses and overtime, climbed 2.2% for regular workers, slowing slightly from the previous month.
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