Job Cuts Rise 17 Percent in April to 40,298

Job cut announcements by U.S.-based firms were up 17 percent in April, as employers in retail and financial services continued to shed workers in a challenging business environment.

Employers announced plans to shed 40,298 workers from their payrolls in April, according to the monthly report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.  That was up from 34,399 in March and 6.0 percent higher than the 38,121 job cuts recorded in the same month a year ago.

Read the full report here.

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February Cuts Fall To 41,835

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The pace of downsizing declined slightly in the second month of the new year, as U.S.-based employers announced plans to cut payrolls by 41,835 in February. The February total was 7.3 percent lower than the 45,107 job cuts employers announced to kick off 2014, according to the report Thursday from global outplacement consultancy Challenger, Gray & Christmas, Inc.

February job cuts were down 24 percent from the same month a year ago, when 55,356 planned layoffs were recorded. It was, in fact, the lowest February total since 35,415 job cuts were announced in 2000.

Get the full report here.

January Job Cuts Surge 50 Percent

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After falling to a 13-year low in December, monthly job cuts surged nearly 50 percent to kick off 2014, as U.S.-based employers announced plans to reduce their payrolls by 45,107 in January, according to the latest report on monthly job cuts released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The 45,107 job cuts last month were 47 percent higher than a December total of 30,623, which was the lowest one-month total since 17,241 planned layoffs were announced in June 2000.  January job cuts were up 12 percent from the same month a year ago, when 40,430 job cuts were recorded.

Get the full report here.

Year-End Job Cut Report: 2013 Sees Fewest Layoffs In 16 Years

Announced job cuts fell to the lowest level of the year in December as U.S.-based employers reported plans to reduce payrolls by 30,623 during the month.  That was down 32 percent from a November total of 45,314.  For the year, job cuts were down about 3.0 percent from 2012, according to the latest report on monthly job cuts released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The December total was six percent lower than the 32,556 job cuts announced in the same month a year earlier, marking the third consecutive year-over-year decline.  Last month was not only the lowest job-cut month in 2013; it was, in fact, the lowest job-cut month in more than 13 years.  The last time employers announced fewer job cuts was June, 2000, when 17,241 planned layoffs were recorded.

Overall, employers announced a total of 509,051 planned job cuts in 2013, down 3.0 percent from 523,362 in 2012.  It is the lowest annual job-cut total since 434,350 cuts were announced in 1997.  The fourth quarter of the year saw a slight increase in October job cuts, followed by consecutive declines in monthly job cuts to close out 2013.  In all, 121,667 job cuts were announced over the final three months of the year, which was 5.3 percent lower than the previous quarter (128,452) and 11 percent lower than the fourth quarter of 2012 (137,361).

Get the full report here.

 

Alert: Challenger Job Cut Report Moved To Wednesday, Nov 6

JOB CUT REPORT MOVED TO WEDNESDAY, NOVEMBER 6

October Job Cut Report Moved Due To Delay Of Government Numbers

The most recent report issued by the Labor Department today for the employment situation in September shows little change in the state of the job market, as 11.3 million people are out of work in September, with 4.1 million out of work for 27 weeks or longer. Companies in the US created 148,000 jobs last month, down from the 169,000 recorded in August. 

Meanwhile, job cuts tracked by Challenger fell to their lowest level in three months, as U.S.-based employers announced plans to reduce payrolls by 40,289 in September.  That was down 20 percent from August, when job cuts reached a six-month high of 50,462.  Job cuts in the third quarter were up 25 percent from a year ago.  Overall, 128,452 planned cuts were announced during the three month period ending September 30, compared to 102,910 over the same stretch last year. Global outplacement consultancy Challenger, Gray & Christmas, Inc. will release its report on October job cuts on Wednesday, November 6, at 7:30 a.m. ET.

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October CEO Report Due Thursday, November 7

Turnover among the nation’s chief executive officers declined slightly in September as 107 planned CEO departures were reported, down 5.6 percent from the 113 in August. Third-quarter CEO departures totaling 348 were up 23 percent from the 282 announced during the same three-month span in 2012.   It is the highest quarterly since 352 CEO changes were recorded in the fourth quarter of 2008, the year Challenger tracked the most CEO changes on record with 1,484. Challenger has now tracked 949 CEO changes so far this year, 6.5 percent more than the 891 departures announced in the first nine months of 2012.  The Challenger report on September CEO turnover will be released Thursday, November 7 at 10:00 a.m. ET.