February 4, 2008
January job cuts surge to 69 percent
Planned workforce reductions announced by United States employers surged 69 percent in January to 74,986, up from 44,416 in December.
It was the highest monthly total since last August, when employers announced 79,459 job cuts. The monthly report on job cuts released today by global outplacement consultancy Challenger, Gray & Christmas Inc. also showed that job cuts last month were 19 percent higher than the 62,975 cuts announced in January 2007.
Employees in the financial sector received the brunt of the bad news again in January, as job cuts in the troubled industry jumped 177 percent from 5,710 in December to 15,789 or more than 21 percent of all January cuts.
WBJ Web Partners
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