February Layoffs Surge 200%, Hitting Highest Level in Nearly 5 Years Amid Trump and Musk’s Federal Cuts

Layoffs reached their highest level in nearly five years in February, a more than 200% increase from January.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Layoffs reached their highest level in nearly five years in February,

00:05a more than 200% increase from January.

00:08This marks the highest monthly total since July 2020 and the most significant

00:11February reduction since 2009.

00:14Over one-third of the total layoffs were due to Elon Musk's efforts,

00:17supported by Trump, to reduce the federal workforce.

00:20Factors like the Department of Government Efficiencies actions,

00:22canceled contracts, and fear of trade wars contributed to this spike.

00:26For all things money, visit Benzinga.com slash GSTV.