Baltimore, MD - March 7, 2025 - Layoffs soared across the United States in February, but the pace was much slower at Maryland-based companies last month amid a mass of federal government job cuts and canceled contracts, along with staff reductions at retailers and other businesses.

Nationwide, job cuts jumped 245 percent last month, according to executive outplacement firm Challenger, Gray & Christmas. There were 172,017 layoffs announced in February across all sectors, and Challenger said that 62,242 of these were federal agencies impacted by the Department of Government Efficiency's efforts to slash spending.

That is the highest monthly total for layoffs since July 2020, when 262,649 cuts were announced, according to a Challenger Report published on Thursday.

“Private companies announced plans to shed thousands of jobs last month, particularly in retail and technology," said Andrew Challenger, senior vice president and workplace expert for the firm. "With the impact of the DOGE actions, as well as canceled government contracts, fear of trade wars and bankruptcies, job cuts soared in February."... Read More: Pikesville Patch