More Than 100,000 Laid Off in Australia in July and August

Figures released by the Australian Bureau of Statistics in October show that 50,500 people were laid off in July 2026 and another 57,800 in August, bringing the two-month total to 108,300. Economist Jeff Borland said that if layoffs remain at a similar level in the next reporting period, third-quarter job losses could reach about 150,000, approaching highs recorded in 2021.

Several major companies have recently announced staffing changes. Energy company Woodside plans to cut more than 500 jobs, health technology company Heidi Health expects to reduce its workforce by 18%, and a restructuring announced by design platform Canva will affect 22% of its employees. Earlier, National Australia Bank (NAB) announced plans to cut 2,500 jobs; KPMG has also continued to reduce its workforce following a scandal involving the misuse of client information.

Borland said pressure from operating costs, a weakening economy and the expanding use of artificial intelligence are all linked to the rise in layoffs. He noted that software development and information technology jobs have been particularly affected by the trend toward automation. According to the original report, the Reserve Bank of Australia raised interest rates to an 18-year high of 4.85% to curb inflation; the inflation rate stands at 4.7%.

However, some economists are cautious about the new figures. The Australian Bureau of Statistics changed its data collection method from quarterly surveys to monthly collection, which may increase seasonal noise and make comparisons with historical data more difficult. Even so, average monthly layoffs have risen above 50,000, compared with an average of about 40,000 in 2024–2025.

Source: VietVance