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Posted December 06, 2012 by

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

Rick Cobb, executive vice president Challenger, Gray & Christmas

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.  (more…)

Posted August 02, 2012 by

45% Fewer Layoffs in July 2012 Than July 2011

John Challenger of Challenger, Gray & ChristmasPlanned 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. (more…)

John Challenger of Challenger, Gray & Christmas

Posted November 16, 2011 by

Citigroup Announces 3,000 Layoffs – About 1% of Its Workforce

Citigroup announced a round of job cuts today that will impact about one percent of its global workforce. That amounts to roughly 3,000 workers, mostly from its securities and banking unit. (more…)