- Prior 19.06k
US-based employers announced 15,245 cuts in February, a 20% drop from the 19,064 cuts announced in January. Meanwhile, employers announced plans to hire 215,127 workers, the highest February total on record. Challenger notes that:
“It remains to be seen what the full impact of Russia’s attack on Ukraine will be for global economies, as Ukrainian exports are halted and stalled, as Ukrainian workers fight and find safety, as the stiff global sanctions on Russia take hold.
“COVID concerns are impacting the labor market less than the high number of quits that are forcing companies to offer better pay and benefits and more flexibility. While another wave of cases or a more virulent variant may spike layoff announcements down the road, the issue for employers at the moment is finding and keeping staff."