November Job Cuts Put 2011 Downsizing Ahead of 2010

The number of planned layoffs announced in November remained virtually unchanged from the previous month, as US-based employers reported job cuts totaling 42,474, down 0.7 percent from 42,759 in October, according to the latest report on downsizing activity from global outplacement firm Challenger, Gray & Christmas, Inc.

November job cuts were down 13 percent from the same month a year ago when employers announced plans to cut 48,711 jobs from their payrolls. November marks the second consecutive month of lower job cuts after surging to a 28-month high of 115,730 in September.

With one month remaining in 2011, job cuts for the year total 564,297, officially surpassing the 2010 year-end total of 529,973.  The 11-month total is 13 percent higher than the 497,969 job cuts announced over the same period a year ago.

Read the full report here.

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