25K layoffs announced in March

(CNN)– Layoff announcements for March reached their third highest ever level.

According to a new report published on Thursday, March 3, by Challenger, Gray, and Christmas more than 275,000 layoffs were announced last month.

It’s a 60% jump from February, and the highest level since the pandemic.

The biggest culprit was one particular employer, the federal government.

The Department of Government Efficiency announced plans to axe more than 216,000 federal jobs.

Of the remaining 59,000 cuts, the biggest share was in technology and retail, according to the report.