Layoff announcements soar to the highest since 2020 as DOGE slashes federal staff

• Layoffs soar to highest level since 2020, led by Musk's DOGE cuts

  Job cuts spiked in February, marking their highest point since July 2020, due to firings of government workers directed by DOGE.
  
  CBS News - 1h
• 

  DOGE onslaught pushed layoff announcements to highest point since 2020

  An unofficial but closely watched gauge of the labor market found February had the most layoff announcements since early in the pandemic, led by massive federal workforce cuts.
  
  NBC News - 1h
• 

  Trump and DOGE Escalate Layoffs of Federal Workers

  Federal officials circulated a memo asking agency leaders to plan even more job reductions after thousands of federal workers were fired in recent weeks.
  
  The New York Times - Feb. 27

• UK construction activity falls at fastest pace since 2020

  PMI index declines to five-year low as housebuilding plummets
  
  Financial Times - 4h
• 

  UK asylum claims hit highest level since 1979

  More than 108,000 people claimed asylum in the UK in 2024, according to new statistics.
  
  BBC News - Feb. 27

• Copper waiting to leave warehouses hits highest level since 2021

  Traders prepare to deliver metal to US before imposition of tariffs as Trump’s plans distort mineral markets
  
  Financial Times - 5d
• 

  Meta slashes staff stock awards as group embarks on AI spending drive

  Most employees will receive about 10% less equity options this year
  
  Financial Times - Feb. 20
• 

  German borrowing costs soar by most since 1997 on ‘historic’ debt deal

  Investors bet on big boost to growth after agreement to increase funding for military and infrastructure
  
  Financial Times - 22h
• 

  Bears announce Ben Johnson's full coaching staff

  New Bears head coach Ben Johnson has assembled his full staff for the 2025 season.
  
  Yahoo Sports - Feb. 20

More from CNBC

• MongoDB plummets 20% as weak outlook overshadows strong quarterly results

  MongoDB shares plummeted more than 20% after the database software maker shared weak guidance that signaled a slowdown in growth.
  
  CNBC - 22m

• Global bonds sell off as investors react to Trump's tariffs and a German 'paradigm shift'

  Government bonds were selling off all over the world on Thursday, with German borrowing costs hovering at multi-decade highs.
  
  CNBC - 1h

• Macy's turnaround hinges on revamping some stores and closing others. It appears to be working

  Macy's is in the midst of an aggressive strategy to close underperforming stores and invest in better performing locations as it looks to reverse sales slump.
  
  CNBC - 57m

• House censures Rep. Al Green for heckling Trump during speech to Congress

  Fewer than 30 members of the House of Representatives have been censured. Green said about interrupting Trump, "Truthfully, I would do it again."
  
  CNBC - 3m

• Wealth creation is booming as multimillionaire population jumps 5.2% in the U.S.

  The U.S. is now home to almost 40% of the world's super rich, nearly double the share in China, which has the next highest contingent of multimillionaires.
  
  CNBC - 1h

More in Business

• 

  Sweeping Tariffs Threaten to Undo a 30-Year Trade Alliance

  President Trump’s stiff tariffs on Mexico and Canada could push those allies into recession. The impact for America could be messy.
  
  The New York Times - 1m
• 

  US floats new tariff reprieve for Canada-Mexico trade in latest shift

  Move would expand one-month carve-out for car imports to include all USMCA-compliant goods
  
  Financial Times - 3m

• House censures Rep. Al Green for heckling Trump during speech to Congress

  Fewer than 30 members of the House of Representatives have been censured. Green said about interrupting Trump, "Truthfully, I would do it again."
  
  CNBC - 3m

• BJ’s Wholesale stands out by not warning on sales due to tariffs. Stock soars.

  Tariffs will raises prices for Americans, but BJ’s will use it’s ‘muscle’ when negotiating with suppliers to keep inflation down.
  
  MarketWatch - 11m
• 

  Goldman Sachs Stands Apart Again — This Time for Its Annual Layoff Ritual

  The investment banking giant stands by its practice of regular staff cuts often called its ‘annual cull,’ trying to cut between 3 and 5 percent of its workforce of 46,500.
  
  Inc. - 16m