Layoffs in the US hit a record high, increasing by 245% compared to the previous month. In February, a total of 172,017 people were laid off due to layoffs in the federal government, canceled contracts, trade war fears, and bankruptcies. The consulting firm Challenger, Gray & Christmas, which keeps track of layoffs, released its report for February. US-based employers announced that 172,017 people were laid off in February. This is the highest level recorded for February since the 186,350 layoffs in 2009. It is also the highest monthly total recorded since the 262,649 layoffs reported in July 2020. Layoffs in February increased by 245% compared to the previous month and 103% compared to the same period last year. In the first two months of this year, layoffs increased by 33% to 221,812 compared to the same period in 2024. THE MOST LAYOFFS IN THE PUBLIC SECTOR Last month, a total of 62,242 layoffs were announced by 17 different agencies affiliated with the federal government. Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, mentioned that private companies announced plans to lay off thousands of people last month, especially in the retail and technology sectors. Challenger reported that layoffs increased in February due to the actions of the Department of Government Efficiency (DOGE), canceled public contracts, trade war fears, and bankruptcies. Challenger noted that employees in mass layoffs often feel restless and uncertain, and in such situations, the likelihood of many employees voluntarily leaving is quite high.