The last time the United States saw layoff numbers this high was during the Covid-19 pandemic.

On today’s Big Take podcast, Bloomberg US Economy reporter Julia Fanzeres and host David Gura tackle the layoff wave of 2025: what it reveals about the state of the US economy — and what it means for the workers swept up in it.

Read more: Wave of US Layoffs Flash Early Warning Sign for Job Market

The last time the United States saw layoff numbers this high was during the Covid-19 pandemic.
On today&rsquo;s Big Take podcast, Bloomberg US Economy reporter Julia Fanzeres and host David Gura tackle the layoff wave of 2025: what it reveals about the state of the US economy &mdash; and what it means for the workers swept up in it.
Read more: <a href="https://www.bloomberg.com/news/articles/2025-11-03/the-low-hire-low-fire-us-economy-seems-to-be-over?srnd=homepage-americas">Wave of US Layoffs Flash Early Warning Sign for Job Market</a>

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

It’s Not Just You. There Are a Lot of Layoffs Happening

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/64919216-7581-4037-a6bb-b38a01529597/transcript

President Donald Trump says the US has begun major combat operations against Iran. Airstrikes have been carried out by Israel and the US, with multiple provinces hit. Iran in turn has fired back at Israel and targeted US bases and assets in the region, including Bahrain, the UAE, Kuwait and Iraq. 

This comes after weeks of talks failed to produce a fresh agreement on Iran’s nuclear program. OPEC+ will consider the option of a larger supply increase when key members meet on Sunday.

This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe. You can also listen at Bloomberg News Now.

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

President Donald Trump says the US has begun major combat operations against Iran.&nbsp;Airstrikes have been carried out by Israel and the US, with multiple provinces hit. Iran in turn has fired back at Israel and targeted US bases and assets in the region, including Bahrain, the UAE, Kuwait and Iraq.&nbsp; This comes after weeks of talks failed to produce a fresh agreement on Iran&rsquo;s nuclear program.&nbsp;OPEC+ will consider the option of a larger supply increase when key members meet on Sunday.
This is a developing story. We are&nbsp;<a href="https://www.bloomberg.com/news/live-blog/2026-02-28/iran-strikes?srnd=homepage-americas">live blogging</a> at Bloomberg.com with the latest from across the globe. You can also listen at&nbsp;<a href="https://podcasts.apple.com/us/podcast/bloomberg-news-now/id1701403307">Bloomberg News Now</a>. We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>

Special Report: US and Israel Strike Iran

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/92adf941-4e17-44b6-b1af-b3ff00dc937a/transcript

In Episode 4 of The Sixth Bureau, a series from The Big Take,we follow a spy from China’s Ministry of State Security as he tries to plan a delicate overseas meeting with a valuable source. But the person he’s talking to isn’t working alone.

The Sixth Bureau from Bloomberg News follows an MSS intelligence officer whose mission was to acquire the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. That is, until his sloppiness — and a cunning FBI sting — led to a stunning reversal: Xu Yanjun became the first Chinese intelligence officer ever convicted on American soil.

The Sixth Bureau is the story of superpowers, their secrets and how one Chinese spy got caught. Listen to Episodes 1 - 3 here.

In Episode 4 of The Sixth Bureau, a series from The Big Take, we follow a spy from China&rsquo;s Ministry of State Security as he tries to plan a delicate overseas meeting with a valuable source. But the person he&rsquo;s talking to isn&rsquo;t working alone.
The Sixth Bureau from Bloomberg News follows an MSS intelligence officer whose mission was to acquire the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. That is, until his sloppiness &mdash; and a cunning FBI sting &mdash; led to a stunning reversal: Xu Yanjun became the first Chinese intelligence officer ever convicted on American soil.
The Sixth Bureau is the story of superpowers, their secrets and how one Chinese spy got caught. Listen to Episodes 1 - 3 <a href="https://www.bloomberg.com/features/the-sixth-bureau/">here</a>.

The Sixth Bureau Episode 4: The Duck Analogy

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/471d6d60-4ecf-47e0-b84a-b3fe00f84944/transcript

After US forces captured former Venezuelan President Nicolás Maduro in January, President Donald Trump said the US would “run” the South American country. What’s actually happened since?

On today’s Big Take podcast, host David Gura has a sweeping conversation with International Crisis Group senior analyst Phil Gunson, who’s based in Caracas and has tracked Latin American politics for decades.

Further listening: 
Why Trump Wants Venezuela’s Oil
How Venezuela Shifts China’s Calculus
The Domino Effect of the ‘Donroe Doctrine’

Hosted by David Gura and Sarah Holder; Produced by Rachael Lewis-Krisky; Edited by Aaron Edwards.

Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

After US forces captured former Venezuelan President Nicol&aacute;s Maduro in January, President Donald Trump said the US would &ldquo;run&rdquo; the South American country. What&rsquo;s actually happened since?
On today&rsquo;s Big Take podcast, host David Gura has a sweeping conversation with International Crisis Group senior analyst Phil Gunson, who&rsquo;s based in Caracas and has tracked Latin American politics for decades.
Further listening:&nbsp;
<ul>
<li><a href="https://podcasts.apple.com/us/podcast/big-take/id1578096201?i=1000744510440">Why Trump Wants Venezuela&rsquo;s Oil</a></li>
<li><a href="https://podcasts.apple.com/us/podcast/big-take/id1578096201?i=1000744032583">How Venezuela Shifts China&rsquo;s Calculus</a></li>
<li><a href="https://podcasts.apple.com/us/podcast/big-take/id1578096201?i=1000745491988">The Domino Effect of the &lsquo;Donroe Doctrine&rsquo;</a></li>
</ul>
Hosted by David Gura and Sarah Holder; Produced by Rachael Lewis-Krisky; Edited by Aaron Edwards.
Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

How the ‘Power Game’ Is Reshaping Venezuela

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f3b8cbfc-0c76-4c49-8e99-b3fd016572c6/transcript

It’s Not Just You. There Are a Lot of Layoffs Happening

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