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US Job Cuts Drop 55% In February, But Iran War Raises Layoff Concerns: Report
US Job Cuts Drop 55% In February, But Iran War Raises Layoff Concerns: Report
US employers announces 48,307 job cuts in February, down 55 per cent from 108,435 layoffs in January.
Layoff announcements in the United States eased in February after a sharp spike at the start of the year, according to a report by global outplacement and executive coaching firm Challenger, Gray & Christmas.
US employers announced 48,307 job cuts in February, down 55 per cent from 108,435 layoffs in January. The figure was also 72 per cent lower than the 172,017 job cuts announced in February last year.
Despite the monthly decline, layoffs remain elevated in the early part of 2026. In the first two months of the year, companies announced 156,742 job cuts, making it the fifth-highest January-February total since 2009.
Commenting on the trend, Andy Challenger, workplace expert and chief revenue officer at Challenger, Gray & Christmas, said the February decline offers temporary relief but uncertainty remains.
“February’s dip is a nice reprieve from the elevated job cut plans to start the year. With US involvement in a growing war in Iran, the end of Q1 may bring more layoff plans as companies tighten belts amid uncertainty and higher costs,” he said.
The technology sector announced the highest number of layoffs in February. Tech firms reported 11,039 job cuts during the month, taking the total for 2026 so far to 33,330 layoffs. This is 51 per cent higher than the 22,042 job cuts recorded in the same period last year.
The transportation sector has seen one of the sharpest increases in layoffs. Companies in the sector have announced 31,702 job cuts in 2026 so far, up 872 per cent from 3,261 layoffs during the same period last year. The report noted that the Iran war could impact transportation firms due to rising oil prices and supply chain disruptions.
Layoffs have also increased in several other sectors. Healthcare companies and health product manufacturers announced 19,228 job cuts in the first two months of the year, the highest January-February total for the sector since 2021.
In the education sector, employers announced 5,417 job cuts in February, taking the total for 2026 to 6,209, which is 96 per cent higher than the 3,160 cuts reported during the same period in 2025.
Meanwhile, industrial manufacturing firms announced 4,109 layoffs in February, bringing the total for the year to 5,685, a 143 per cent increase from the first two months of last year.
Companies cited several reasons for job cuts in February. The biggest factor was store or department closures, which accounted for 10,736 layoffs. This was followed by market and economic conditions (10,114), restructuring (9,146) and cost-cutting measures (5,636).
For the year so far, market and economic conditions remain the leading reason for layoffs, accounting for 38,506 job cuts, followed by contract losses (31,416), restructuring (29,190) and business closures (23,474).
Artificial intelligence is also beginning to play a role in job reductions. AI was cited in 4,680 layoffs in February, representing around 10 per cent of total job cuts for the month. In the first two months of 2026, AI has been linked to 12,304 layoffs, or about 8 per cent of all announced job cuts.
Meanwhile, hiring plans rose in February but remain weaker compared with last year. Companies announced 12,755 hiring plans in February, up 140 per cent from 5,306 in January, but 63 per cent lower than the 34,580 hiring plans announced in February 2025.
Overall, employers have announced plans to hire 18,061 workers in the first two months of 2026, down 56 per cent from 40,669 hiring plans recorded during the same period last year.
Meanwhile, 50 tech companies have laid off around 35,650 employees this year so far, according to layoffs.fyi. In 2025, 271 companies laid off nearly 124,210 tech employees.
Source: News18.com
Source: OfficeNewz
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