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Marketplace All-in-One

The slashing of the federal workforce begins

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 14 February 2025

⏱️ 7 minutes

🧾️ Download transcript

Summary

President Donald Trump and advisor Elon Musk are intensifying their program to end the jobs of federal employees. A new strategy is to let go people on the job for less than a year, people with what is called “probationary status.” We’ll discuss. Plus, a new poll finds that a third of Americans have more credit card debt than emergency savings. Then, could labor unions help meet Colorado’s green energy goals?

Transcript

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0:00.0

How inflation can molt into heavy consumer debt. I'm David Brancaccio. President Trump and Trump

0:08.4

advisor Elon Musk are intensifying their program to end the jobs of federal employees. A new strategy is to let go people on the job for less than a year. People with called probationary status. Marketplaces Nova Saffo has the details.

0:23.3

At the Consumer Financial Protection Bureau, workers who are categorized as term employees have been

0:28.8

sent layoff notices. That's according to Reuters. Term employees are full-time workers on a

0:33.9

contract. This would be a new category of worker affected on top of the expansion administered

0:38.6

yesterday by the White House Office of Management and Budget. The OMB issued a directive to lay off

0:45.2

recently hired employees on probationary status, usually those at agencies one year or less

0:51.2

who have not yet gained conionally enacted civil service protections.

0:55.6

The Department of Veterans Affairs confirmed

0:57.6

that it had laid off 1,000 probationary workers.

1:01.6

Democratic Senator Patty Murray,

1:03.3

a member of the Senate Veterans Affairs Committee,

1:05.7

identified those fired as researchers

1:07.8

working in areas such as opioid addiction,

1:10.4

prosthetics, and burn pit exposure.

1:12.9

There were reportedly thousands of workers fired at the Forest Service, which manages the

1:17.3

nation's forests in response to wildfires, and thousands more at the Energy Department.

1:22.8

I'm Nova Software for Marketplace.

1:24.9

The following is not the ratio you're looking for. A third of Americans have

1:29.1

more credit card debt than emergency savings, according to a new poll commissioned by Bank Rate.

1:34.5

Now, that's actually a slight improvement over the last two years. It's seen as a sign higher

1:39.0

prices are stuck in household budgets in the form of debt. Here's Marketplace's Henry Epp. Bank rate has measured

...

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