Fahad Hassan, CEO of Range, is capitalizing on recent federal job cuts as his startup seeks talent from displaced government workers. As the Department of Government Efficiency initiates significant layoffs, affecting around 280,000 workers, the market for these employees has become competitive, with them searching for new positions at a higher rate. Despite some nonprofits and universities facing funding challenges, companies that continue hiring may provide essential opportunities for these individuals. Yet, the overall job market remains sluggish, complicating transitions into the private sector.
"We're getting lucky and potentially being able to hire a bunch of folks ahead of schedule," he told Business Insider.
Yet companies like Range that haven't slowed hiring amid concerns about a possible economic gut punch from a trade war could offer an important, if narrow, lifeline for current and former government workers seeking jobs.
Cuts outlined by DOGE, the advisory body led by Elon Musk, translated to more than 280,000 planned layoffs of federal workers and contractors in the past two months.
A recent analysis by Indeed found that workers at government agencies in DOGE's crosshairs are searching for and applying for jobs at "well above" the usual level.
#federal-job-cuts #workforce-migration #private-sector-opportunities #digital-wealth-management #economic-challenges
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