May Job Cuts Surge To 61,887 On Computer, Transportation Cuts

In May, the nation’s employers announced plans to cut 61,887 workers from their payrolls, the most since last September when layoffs totaled 115,730, according to the latest job-cut report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.

The May job-cut total was up 53 percent from the 40,559 planned layoffs announced in April.  It was 67 percent higher than May 2011, when employers announced job cuts totaling 37,135.  This marks the fourth year-over-year increase in monthly job cuts in 2012.

Overall, employers have announced 245,540 job cuts since January 1.  That is up 20 percent from the 204,374 planned cuts announced from January through May 2011.  The year-to-date total is five percent lower than the 258,319 job cuts announced in the first five months of 2010 and significantly (70 percent) lower than the 822,282 job cuts during the same period in 2009.

Read the full report here.

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