Making Cash host Charles Payne discusses the medias DOGE scare techniques.
U.S. employers in March introduced the third-highest variety of layoffs on file final month as Elon Musk’s Division of Authorities Effectivity (DOGE) continued its efforts in decreasing the federal workforce, new knowledge confirmed.
The month-to-month report by Challenger, Grey & Christmas discovered that employers introduced 275,240 job cuts in March, a 60% improve from the prior month when 172,017 cuts had been introduced.
Final month’s cuts are up 205% from March 2024, which was the very best month-to-month whole recorded final 12 months.
“Job cut announcements were dominated last month by Department of Government Efficiency (DOGE) plans to eliminate positions in the federal government. It would have otherwise been a fairly quiet month for layoffs,” mentioned Andrew Challenger, senior vice chairman and office knowledgeable for Challenger, Grey & Christmas.
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DOGE chief Elon Musk has led a cuts of a major variety of federal jobs. (Photograph by Samuel Corum/Getty Photos / Getty Photos)
During the last two months, DOGE’s cutbacks have been attributed to 280,253 layoffs of federal employees and contractors at 27 companies, in accordance with Challenger monitoring. There have been a further 4,429 job cuts attributed to the downstream impact of slicing federal help and ending contracts, largely at nonprofits and well being organizations.
The variety of job cuts introduced in March is the third-highest month-to-month interval ever recorded within the knowledge sequence – trailing solely the large cuts introduced early within the COVID pandemic when 671,129 cuts had been recorded in April 2020 and 397,016 in Might 2020.
Challenger started reporting on job minimize plans in 1989.
