Day: March 7, 2025

U.S. Has Most Layoffs in a Month Since COVID Lockdown

Buck Banks

172,000

The U.S. had ~172,000 layoffs in February, up 245% from January and the most in a single month since the Covid pandemic in 2020, according to a report from Challenger, Gray & Christmas. That’s also the most job cuts in the month of February since 2009, during the financial crisis. More than a third of those layoffs (~62,000) came from the Department of Government Efficiency’s federal headcount reduction. But it wasn’t just federal workers who were laid off: Retail was also hit hard, losing nearly 40,000 roles. Per CNBC, the sector has lost six times more jobs so far this year than it did in the same period last year.

Trump Might Revoke Legal Status of 240,000 Ukrainians

Buck Banks

240,000

“President Donald Trump’s administration is planning to revoke temporary legal status for some 240,000 Ukrainians who fled the conflict with Russia, potentially putting them on a fast-track to deportation,” Reuters reports. “The move, expected as soon as April, would be a stunning reversal of the welcome Ukrainians received under President Joe Biden’s administration.”