
Newsweek
March's government job cuts are at their highest since September 2011, with layoffs hitting the U.S. Army and the Veterans Affairs offices amid job losses across different industries in the country, according to data from job search and coaching firm Challenger, Gray & Christmas, Inc.
In March, government agencies cut more than 36,000 jobs, with 10,000 layoffs coming from Veterans Affairs while the Army cut 24,000 roles. Overall, employers eliminated more than 90,000 positions last month, a 7 percent increase from February.
In the first quarter of 2024, employers said they planned to slash more than 257,000 jobs. This was 5 percent less than at the same time last year, though a whopping 120 percent higher than the end of 2023.
"Layoffs certainly ticked up to round out the first quarter, though below last year's levels," Andy Challenger, workplace and labor expert at Challenger, Gray & Christmas Inc., said in a statement. "Many companies appear to be reverting to a 'do more with less' approach."
Companies reducing jobs say that cost-cutting is the main reason for slashing positions.