- Retail layoffs jumped nearly 140% year to date through November, with 91,954 positions cut amid soft demand and policy jitters.
- Big chains like Target and Amazon led major reductions, though stronger Black Friday spending could prompt temporary holiday hires.
As shoppers flock to stores and websites this holiday season, the retail world behind the scenes tells a more sobering story: thousands of jobs are vanishing at an alarming rate.
Fresh data from Challenger, Gray & Christmas paints a stark picture of the industry’s struggles, with November’s layoffs spiking dramatically compared to last year.
But there’s a glimmer of hope—could Black Friday’s spending frenzy spark a wave of temporary hires to get through the gift-giving rush?
The FrankNez Media Daily Briefing newsletter provides all the news you need to start your day. Sign up here.
– FNM
A November to Remember—for All the Wrong Reasons
Retail employers announced 3,290 job cuts last month, a sharp increase of more than 35% from October’s 2,431 eliminations.
That’s not just a seasonal blip; it’s part of a broader trend that’s left the sector reeling.
Year-to-date through the first 11 months of 2025, retail has seen a whopping 91,954 positions axed—a nearly 140% jump from the same stretch in 2024.
What’s driving this bloodletting? Experts point to a toxic mix of softening consumer demand, jitters over potential tariffs, and shoppers shifting their dollars toward experiences over stuff.
Retail is feeling the pinch of these economic headwinds more acutely than ever, underscoring how quickly tastes and trade policies can upend livelihoods.
Zoom out to the entire job market, and November’s total of 71,321 cuts across all industries marked a 24% rise from the previous year.
It’s a grim milestone: only the third time since the 2008 financial crisis that monthly losses have topped 70,000 in November, joining infamous company with 2008 and 2022.
Yet, on a brighter note, that’s still down over 50% from October’s totals, hinting at some stabilization—or at least a pause in the pain.
Big Names Making Tough Calls
No corner of retail has been spared. Target, the Minneapolis-based giant, kicked things off in October by disclosing plans to slash 1,000 corporate jobs and shutter 800 open positions—roughly 8% of its global headquarters staff.
The move, framed as a bid for efficiency, comes as the retailer grapples with inventory overhang and cautious spending.
Amazon, ever the e-commerce behemoth, followed suit with announcements to trim 14,000 roles, all in the name of staying “nimble” amid a post-pandemic slowdown.
And just this month, Yankee Candle dropped a bombshell: 900 layoffs affecting about 10% of its global professional and clerical workforce.
For employees, these aren’t abstract numbers—they’re pink slips landing right as holiday lights twinkle.
Andy Challenger, the firm’s chief revenue officer and a longtime observer of workforce shifts, puts it in perspective: “Layoff plans fell last month, certainly a positive sign,” he said in a statement.
But he doesn’t sugarcoat the history: “That said, job cuts in November have risen above 70,000 only twice since 2008: in 2022 and in 2008.”
Holiday Hopes: A Temporary Reprieve?
For all the gloom, December could bring a plot twist. Early indicators from Black Friday and Thanksgiving show wallets opening wider than expected, potentially prompting retailers to staff up for the final sprint to New Year’s.
“The increased spending over the Black Friday and the Thanksgiving weekend may give rise to hires in December right before the holiday,” Challenger added.
Think seasonal cashiers, overnight stockers, and gift-wrapper extraordinaire—the jobs that make the magic happen.
But here’s the rub: Will they stick around past the returns season? “It’s unclear, however, if those positions will last into the New Year,” Challenger cautioned.
In an industry already shedding full-time roles, these gigs might feel more like lifelines than launches.
What It Means for Workers and Shoppers Alike
This isn’t just retail’s reckoning; it’s a ripple effect felt far beyond store aisles.
Frontline workers, many already juggling multiple jobs, face the instability of a sector that’s pivoting from boom to belt-tightening.
For consumers, it could mean leaner shelves or longer lines if holiday help falls short.
As 2025 draws to a close, the big question lingers: Is this a holiday hiccup or the start of a deeper downturn?
With tariffs looming and tastes evolving, retailers aren’t out of the woods yet.
One thing’s clear—the sector’s resilience will be tested like never before.
Keep an eye on those December hiring numbers; they might just be the early warning we need.
Also Read: A Home Depot Rival Files an Unexpected Chapter 11 Bankruptcy
Contact | About | Home | Newsletter
