Layoffs in the US broke records by increasing 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 having an impact. The consultancy firm Challenger, Gray & Christmas, which keeps track of layoffs, released its report for February. Employers based in the US announced that 172,017 people were laid off in February. This marked the highest level recorded for February since the 186,350 layoffs in 2009. Additionally, it was the highest monthly total since the 262,649 layoffs announced in July 2020. Layoffs in February increased by 245% compared to the previous month and rose by 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 majority of layoffs occurred in the public sector. Last month, a total of 62,242 layoffs were announced from 17 different agencies under the federal government. Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, stated that private companies announced plans to lay off thousands of people last month, particularly 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 usually feel unsettled and uncertain during mass layoffs, stating that in such situations, the likelihood of many employees leaving voluntarily is quite high.