March Job Cut Report: Lowest Q1 Total Since 1995

While government-sector job cuts rose to their highest level in 12 months, the pace of downsizing declined in March as employers announced plans to reduce payrolls by 41,528 jobs during the month, down 18 percent from 50,702 job cuts announced in February.

The report on March job-cut announcements released Wednesday by global outplacement consultancy Challenger, Gray & Christmas, Inc. revealed that March job cuts were down 39 percent from a year ago, when employers announced 67,611 job cuts. 

Overall, employers have announced 130,749 job cuts through the first quarter, 28 percent fewer than the 181,183 planned layoffs announced in the same period of 2010.  The three-month tally is, in fact, the lowest first-quarter total since 1995, when employers announced 97,716 job cuts from January through March.

Full report (PDF): http://www.challengergray.com/press/press.aspx

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