U.S. job cuts surged to 108,435 in January 2026, the highest since 2009, led by Amazon, UPS, and Citi, with hiring at a record low.

U.S. employers announced 108,435 job cuts in January 2026, the highest January total since 2009 and a 118% increase from the same month last year, according to Challenger, Gray & Christmas. The surge was driven by major layoffs at Amazon, UPS, and Citi, with transportation, tech, and healthcare sectors leading the cuts. Hiring plans fell to 5,306, the lowest January level on record since 2009. While economic conditions, restructuring, and contract losses were cited as main causes, AI was mentioned in about 7% of layoffs. The data reflects growing employer caution amid economic uncertainty, though the overall unemployment rate remains low.