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January Job Cuts 24% Lower Than a Year Ago
January 31, 2013 by Steven Rothberg
John Challenger of Challenger, Gray & Christmas
The nation’s employers announced plans to cut payrolls by 40,430 jobs in January, up 24 percent from 32,556 in December, according to the latest report on planned job cuts released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
While January job cuts were up from the previous month, they were 24 percent lower than the 53,486 layoffs announced by employers the same month a year ago. This was, in fact, the third lowest January total in Challenger records going back to 1993. The only years to see fewer January job cuts were 1995 (38,962) and 2011 (38,519). Continue Reading
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Of all workers laid off from 2009 to 2011, just 56.9% had jobs as of January 2012
August 28, 2012 by Steven RothbergLabor Day kicks off what is typically a more volatile employment environment, as companies adjust payrolls to align with year-end goals and plans for the coming year. This makes it the ideal time for workers and job seekers alike to reboot their efforts to find or keep a job, according to the workplace authorities at global outplacement and executive coaching consultancy Challenger, Gray & Christmas, Inc.“For many companies, business activity declines during the summer months, as sales slow and key decision makers take off for vacations. The pace tends to quicken as the year comes to a close as companies scramble to hit earnings goals and establish objectives for the new year. As a result, it is not unusual to see a flurry of employment changes in the final four months of the year,” said John A. Challenger, chief executive officer of global outplacement consultancy Challenger, Gray & Christmas, Inc.
Following the worst economic meltdown since the Great Depression, it should come as no surprise that this has been one of the worst recoveries. That point was recently driven home by two reports confirming just how weak this recovery has been. Continue Reading
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Job Cuts in December Were Lowest Per Month Since June
January 05, 2012 by Steven RothbergPlanned job cuts announced by U.S. employers declined in December to 41,785, the lowest monthly total since June, according to the latest report on downsizing activity from global outplacement firm Challenger, Gray & Christmas, Inc.
The December total was down 1.6 percent from 42,474 job cuts in November. Last month was up 31 percent from December 2010, when employers announced just 32,004 job cuts, which still stands as the lowest monthly total since 17,241 job cuts were recorded in June 2000.
While 2011 went out like a lamb in terms of downsizing activity, with employers announcing an average of just 42,339 job cuts per month over the final quarter of the year, the year-end job-cut total of 606,082 was 14 percent higher than the 529,973 job cuts announced in 2010. However, the 2010 year-end total was a 13-year low. The 2011 total is still well below the recession peak of 1288,030 annual job cuts reached in 2009. Continue Reading
