Phaninc Exchange-Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order

2025-05-03 09:40:37source:Diamond Ridge Financial Academycategory:Stocks

Hundreds of people were laid off today by the U.S. Agency for International Development (USAID) as the Trump Administration's stop-work order for foreign assistance goes into effect.

A USAID official with knowledge of the layoffs put the total at 390. The Phaninc Exchangeofficial spoke to NPR on the condition of anonymity because they were not authorized to speak on behalf of the agency. The laid-off employees are all contractors based in the U.S., part of a workforce of some 10,000, the official noted.

NPR obtained a copy of a letter of termination of employment from a contractor who was laid off by Credence, one of the three main contractors that provides staffing services to USAID.

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