“Trump put billionaires in charge of everything,” said progressive Congressman Greg Casar. “It’s a disaster.”
The US labor market, which in recent months had ground nearly to a halt, now appears to be entering a downward spiral.
As reported by the Washington Post on Thursday, new data from corporate outplacement firm Challenger, Gray & Christmas found that employers in October announced 153,000 job cuts, which marked the highest number of layoffs in that month since October 2003.
Total announced job cuts in 2025 have now reached 1.1 million, a number that the Post describes as a “recession-like” level comparable to the steep job cuts announced in the wake of the dotcom bust of the early 2000s, the global financial crisis of 2008, and the onset of the Covid-19 pandemic in 2020.
MAGA-layoffs
Tell it like it is
Trump Slump
Trump and Musk took my job. I can’t spend money. The people who relied on my business have less money. There was no program or process for the laid off people to find new jobs.
The math isn’t hard to figure out.
What was your business?
I was a UI/UX Designer and Frontend Developer working on a federal government contract for four years creating web apps to be used as internal facing tools. The contract got an extension and my company was a shoe in for the follow up contract for further development and maintenance.
Trump won and we were informed that the contract extension was revoked, the new contract terms were drastically changed, and the bid was denied without reason.
I’ve been skipping meals since May.
Big 3 firm doge cuts to contracts, couldn’t justify acquiring us anymore mid-deal. Stood to have my first proper exit after 20 years, and finally almost put a down payment on a starter home at middle age. I have more ways this has fucked me in business, but you get the point. This isn’t even capitalism.
I’m sorry to hear that.
Oof, I am also a UI/UX and middleware person. I am going on 13 months of unemployment. The job market is nonexistent right now. I’ve started looking at a career change, even though I still have 60K in student loans.
systems admin and operations type of guy. been unemployed for the same time and the disturbing thing compared to other periods of unemployment is how often I get a response that they pulled the position.
I picked up AWS certifications, Python for api development, and I’m working on my entry level program manager certification. It’s not working out all that well, but it does help when interviewing.
Ah man I’m really sorry to hear that. Hopefully Virginia and New York are the first signs of a well deserved backlash. A lot of the companies that went all in on AI to replace UX/UI and research are quietly hiring back now. All the best.
lol nice, we’re reaching .com bubble levels of layoffs, wcgw
Edit: and we’re not even officially “in a recession” lmfao
I’m guessing we can’t be in a recession because the people who collect the data that we use to determine when we’re in a recession have all been fired.
We’re not in a recession because imports are subtracted from GDP. Since Imports have plummeted with tariffs, gdp data gives the false impression of a growing economy. Had imports been unchanged we would’ve had negative GDP reported.
Flying with no radar :)
Pay no mind to the cumulogranite.
Everything’s perfectly alright now. We’re fine - we’re all fine… here… now. Thank you. How are you?
And the AI bubble hasn’t even burst yet.
Don’t worry. It was on the front page of CNN; they said it hasn’t happened yet, so we’re good.
“Bear Stearns is fine” - Pete Opsec
We so great now, the greatest.
“Trump put billionaires in charge of everything,” said progressive Congressman Greg Casar. “It’s a disaster.”
While his cabinet is wealthy, it mostly is not billionaires (though we’ll see where they wind up, since I understand that some of the policy they’re running, like making executive decisions on tariff exemptions, is pretty open to corruption).
https://www.forbes.com/sites/kylemullins/2025/08/13/inside-the-richest-presidential-cabinet-ever/
Name Role Net worth Donald Trump President $5,500,000,000 Howard Lutnick Secretary of Commerce $3,300,000,000 Linda McMahon Secretary of Education $3,300,000,000 Scott Bessent Secretary of the Treasury $600,000,000 Doug Burgum Secretary of the Interior $100,000,000 Chris Wright Secretary of Energy $100,000,000 Lori Chavez-DeRemer Secretary of Labor $35,000,000 Brooke Rollins Secretary of Agriculture $15,000,000 Robert F. Kennedy Jr. Secretary of Health and Human Services $15,000,000 JD Vance Vice President $12,000,000 Pam Bondi Attorney General $5,000,000 Kristi Noem Secretary of Homeland Security $5,000,000 Sean Duffy Secretary of Transportation $5,000,000 Scott Turner Secretary of Housing and Urban Development $4,000,000 Pete Hegseth Secretary of Defense (well, now War, I suppose) $3,000,000 Marco Rubio Secretary of State $1,500,000 Doug Collins Secretary of Veterans Affairs $1,000,000 I guess you could maybe count Elon Musk, who has…I dunno, I guess ~$300 billion at the time that he was running around the White House. But that’s just Musk, Trump, Lutnick, and McMahon that break the billionaire bar.
I’m actually kind of shocked by the names at the bottom of the list. Like really? Marco Rubio’s entire net worth is less than a cheap house in the SF Bay Area?
That’s just reported. I’m sure he has money hidden somewhere.
Same as how Trump is probably not actually worth $5B and its inflated, considering he acts like a broke ass bitch that cant even afford a McChicken sandwich
Well, idk about Rubio’s finances, but Trump is in debt up to his eyeballs.
I would take this opportunity to point out that housing in the Bay Area is in ludicrously short supply and has driven house prices to pretty stupid levels. YIMBY’s been banging on it, but…
When he announced a WWE CEO as head of education for the first time ever I started wondering if we’re in a simulation. Top bracket satire.
I don’t think they meant that literally, even if *there are an alarming amount of billionaires in cabinet positions. Consider the meetings and dinners with billionaires, hiring Musk as “not really” an employee, lawsuits settling for acquisitions and mergers, the White House east wing slush fund, the Qatari jet and now air base in Idaho, crypto scamming, rich guy pardons.
Essentially this administration has never been more up for grabs or influencable by money.
White House response: “Nuh uuuhhhh!”
Maybe we should let them borrow at 0% again. That worked last time right?
AI has replaced those jobs…
Remember - they’re cruel. They probably enjoy saving money for their patrons and “trimming fat,” despite how they act publicly.
