
US Challenger Layoffs (Feb) 172.017k (Prev. 49.795k)
Commentary
- ""Private companies announced plans to shed thousands of jobs last month, particularly in Retail and Technology. With the impact of the Department of Government Efficiency [DOGE] actions, as well as canceled Government contracts, fear of trade wars, and bankruptcies, job cuts soared in February," said Andrew Challenger, Senior Vice President and workplace expert for Challenger, Gray & Christmas."
Breakdown
- Government & DOGE: 62.2k
- Retail: 39k
- Tech: 14.5k
- Services and Consumer Products: 13.8k
- Media and news cuts: 1.5k
Hiring plans
- Companies’ hiring plans surged in February to 34,580.
- Entertainment/Leisure plans to hire 28,000 new workers, while Automotive announced 4,831 new workers this year. Technology announced plans to hire 3,225 new workers so far in 2025.
Reaction details (12:44)
- In response to the big jump in layoffs (highest since July 2020), T-note futures (M5) rose from 110-18+ to 110-25+ over 13 minutes.
06 Mar 2025 - 12:30- Fixed IncomeImportant- Source: Reuters
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