STORY: Layoffs announced by U.S. employers in March surged to their highest level since the pandemic, largely due to a purge in federal workers by Elon Musk’s DOGE.
That’s according to a report Thursday from global outplacement firm Challenger, Gray & Christmas.
Challenger said job cuts increased 60% to more than 275,000 last month, the highest level since May of 2020.
It was also the third highest monthly total on record.
More than half of the job cuts were in Washington D.C.
Musk’s Department of Government Efficiency, or DOGE, has taken a chainsaw to the public workforce as part of an unprecedented campaign by President Donald Trump’s administration to cut spending and downsize the government.
The mass firings have not yet shown in official labor market data in a significant way as unions have challenged the dismissals in court, with some judges ordering the reinstatement of thousands of workers.
Outside of government, there were also large increases in planned layoffs in the technology and retail sectors.
And in the wake of Trump’s tariff announcement, Jeep-maker Stellantis on Thursday said it would temporarily lay off 900 workers at five U.S. facilities.
Hiring plans have also plunged. Challenger said this year’s first-quarter total was the lowest since 2012.
Economists will be closely watching the government’s nonfarm payrolls report, released Friday, for how many jobs employers added in March.