Layoff announcements soar to the highest since 2020

Job cuts surged in February, reaching 172,017—the highest in nearly five years—driven by Trump’s push to shrink the federal workforce.

Federal layoffs totaled 62,242 across 17 agencies, partly due to Elon Musk’s efforts with Trump’s support.

Retail and tech sectors also saw major cuts, with Macy’s and Forever 21 leading retail layoffs.

Despite concerns over trade wars and government downsizing, some companies announced 34,580 new hires, CNBC has reported.

Unemployment claims have risen, especially in Washington, D.C.

read more: https://www.cnbc.com/2025/03/06/layoff-announcements-soar-to-the-highest-since-2020-as-doge-slashes-federal-staff-.html

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