Challenger released their January report showing layoff announcements hit 108,435. That is the highest level for the month since 2009 and more than double the cuts announced this time last year. Hiring plans also dropped to their lowest point for January since 2009. Companies like Amazon, UPS, and Pinterest are driving the numbers. They are cutting roles to fund AI investments or trim bureaucracy after pandemic hiring sprees. The report notes that these moves suggest employers are not very optimistic about the outlook for 2026.