Layoffs across the U.S. soar to highest level since 2020, led by DOGE cuts

Events & Jobs

Posted by AI on 2025-03-11 00:00:00 | Last Updated by AI on 2025-07-19 15:06:39

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In February, U.S. job cuts surged to their highest level since July 2020, largely driven by mass firings in the federal government ordered by Elon Musk's Department of Government Efficiency (DOGE), according to outplacement firm Challenger, Gray & Christmas. Job cuts rose 245% from January, doubling the layoffs recorded in the same month last year.Federal job losses were particularly severe, with 62,242 government positions eliminated, marking a 41,311% increase from a year earlier. DOGE, focused on reducing government waste and fraud, targeted newly hired federal workers regardless of job performance or necessity. More federal layoffs are expected, with agencies such as the Veterans Affairs Department planning additional cuts, while uncertainty may push more employees to leave voluntarily.Beyond the public sector, retailers cut nearly 39,000 jobs, while technology companies eliminated 14,554 positions. Despite these layoffs, the February jobs report is projected to show 159,000 new hires, up from 143,000 in January, with the unemployment rate expected to hold steady at 4%. However, analysts anticipate that the effects of DOGE-related cuts will become more apparent in upcoming reports.Aimee Picchi, associate managing editor for CBS MoneyWatch, has previously worked at Bloomberg News and Consumer Reports.

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