Planned job cuts declined in March to the lowest level since May 2011, as U.S.-based employers announced layoffs totaling 37,880 during the month, according to the latest job-cut report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.
The March total was 27 percent lower than the 51,728 job cuts announced in February and nine percent lower than March 2011, when 41,528 planned layoffs were recorded. It was the lowest monthly layoff tally since 37,135 job cuts were announced last May.
Through the first quarter of 2012, employers have announced 143,094 job cuts, up 9.4 percent from 2011 when first-quarter cuts totaled 130,749. Last year’s first quarter saw the fewest planned layoffs since 97,716 were announced in the first three months of 1995.
Read the full report here.