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