Increased Layoffs in Q1 Led by Retail, Government Woes

John Challenger of Challenger, Gray & Christmas

The nation’s employers reported job cuts totaling 49,255 in March, a decline of 11 percent from the 55,356 cuts announced in February, according to the latest report on downsizing activity released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.  Despite the decline, quarterly job cuts reached their highest level since 2011.

March job cuts were 30 percent higher than a year ago, when employers announced plans to shed 37,880 workers from their payrolls.  This marks the second consecutive month and the fourth time in the last six months that the job-cut total was higher than the year-ago figure.

Employers have now announced 145,041 job cuts through the first three months of 2013.  That 5.6 percent higher than the previous quarter’s 137,361 job cuts and 1.4 percent higher than the 143,094 job cuts announced in the first quarter of 2012.  The first-quarter total is, in fact, the highest quarterly tally since 233,258 job cuts were tracked in the third quarter of 2011. Continue Reading

Federal Government Budget Woes Lead to Woes in Job Markets

John Challenger of Challenger, Gray & Christmas

Planned job cuts increased for the second consecutive month in February as U.S.-based employers announced workforce reductions totaling 55,356, up 37 percent from 40,430 in January, according to the report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The February total was 7.0 percent higher than the 51,728 job cuts announced the same month a year ago.  It was the highest monthly tally since last November, when announced layoffs reached 57,081.  Continue Reading

January Job Cuts 24% Lower Than a Year Ago

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

Jobs Cuts in 2012 Lower Than Any Year Since 1997

After three consecutive months of increased layoff activity, the number of planned job cuts announced in December plunged to 32,556, the second lowest monthly total of 2012.

Overall, employers announced 523,362 job cuts in 2012; the fewest since 1997, when job cuts totaled 434,350.

Source: Global outplacement consultancy Challenger, Gray & Christmas, Inc.

Private Sector Employment Increased Whopping 215,000 in December

2001-12 Change in Total Nonfarm Private Employment

Private sector employment increased by 215,000 jobs from November to December, according to the December ADP National Employment Report®, which is produced by Automatic Data Processing, Inc. (ADP®), a leading provider of human capital management solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. The November 2012 report, which reported job gains of 118,000, was revised upward by 30,000 to 148,000 jobs.

Goods-producing employment rose by 28,000 jobs in December as a large gain in construction jobs of 39,000 more than offset the 11,000 decline in manufacturing employment. Service-providing jobs increased by 187,000. Among the service industries reported by the ADP National Employment Report, trade/transportation/utilities services had the largest gain with 53,000 jobs added over the month. Professional/business services added 37,000 jobs and financial activities added 14,000 jobs in December. Continue Reading

December Layoffs Lowest Since 1997

John Challenger of Challenger, Gray & Christmas

After three consecutive months of  increased layoff activity, the number of  planned job cuts announced in December plunged to 32,556, the second lowest monthly total of 2012.  Overall, the year ends with the lowest 12-month job-cut total since 1997, according to the latest report from global outplacement consultancy Challenger, Gray & Christmas, Inc.

The 32,556 planned job cuts announced last month were 43 percent fewer than the 57,081 November cuts.  The December total was 22 percent lower than a year ago, when employers announced 41,785 in the final month of the year.  The only month in 2012 to see fewer job cuts than December was August, when job cuts totaled 32,239.

Despite the December decline, planned layoffs in the fourth quarter were up 33 percent from the previous quarter.  Employers announced 137,361 job cuts in the final three months of year, compared to 102,910 in the third quarter.  The third-quarter total was the lowest quarterly total since 81,568 job cuts were announced in the second quarter of 2000. Continue Reading

Looting of Hostess by Management, Shareholders Cause National Layoffs in November to Increase Rather Than Decrease

Rick Cobb, executive vice president Challenger, Gray & Christmas

Job cuts increased for the third consecutive month in November, as employers announced plans to shed 57,081 workers from their payrolls.  That was up 20 percent from the previous month when announced layoffs totaled 47,724, according to the latest report from global outplacement consultancy Challenger, Gray & Christmas, Inc.

November cuts were 34 percent higher than the 42,474 job cuts announced by employers in the eleventh month of 2011.  Last month was only the fourth time this year that job cuts exceeded 50,000.  Continue Reading

Job Cuts Up From September But Down From a Year Ago

John Challenger of Challenger, Gray & Christmas

Planned job cuts by U.S.-based employers surged 41 percent in October to 47,724, as a spate of layoff announcements in the wake of weak quarterly earnings reports helped push downsizing activity to its highest level in five months, according to the report on monthly job cuts released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The October surge follows a relatively mild September, during which employers announced 33,816 job cuts, which was the second lowest monthly total in the last 22 months.  October was the highest job-cut month since May, when 61,887 planned layoffs were announced.  It was up 12 percent from the same month a year ago, when employers announced plans to trim payrolls by 42,759 workers.   Continue Reading

August Job Cuts Down 12.5% From July; Fewest Since December 2010

Employers announced plans to shed 32,239 workers from their payrolls in August. It was the fewest number of monthly job cuts by US-based firms since December 2010, when layoffs totaled 32,004, according to the latest job cuts report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

August job cuts were down 12.5 percent from a July total of 36,855, making it the third consecutive decline in monthly job cuts. Last month was 37 percent lower than August 2011, when employers announced plans to eliminate 51,114 positions from their ranks. Continue Reading

45% Fewer Layoffs in July 2012 Than July 2011

Planned layoffs declined for the second consecutive month in July, as employers announced job cuts totaling 36,855, down 2.0 percent from 37,551 in June, according to the latest job cuts report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

Job cuts last month were down 45 percent from a year ago, when employers announced plans to cut 66,414 workers from their payrolls in July. This is just the third time this year employers announced fewer cuts than the same month in 2011.

Overall, employers have announced 319,946 job cuts so far this year. The pace of downsizing is virtually even with a year ago; up just 2.5 percent from the 312,220 planned layoffs announced from January through July. Continue Reading