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Archiwum newsów - DJ Challenger: US Oct Job Cuts 63,114, Down 12.0% From Sept

2007-11-01  
DJ Challenger: US Oct Job Cuts 63,114, Down 12.0% From Sept
NEW YORK (Dow Jones)--The number of job cuts announced by U.S. corporations
in October fell by 12.0% from the number reported in the prior month for a
total of 63,114, according to a Challenger, Gray & Christmas survey released
Thursday.
Job cuts were 8.8% lower this October than last year, when there were 69,177
job cuts. Job cut announcements so far this year totaled 650,708, 8.1% fewer
than the 708,406 in the first 10 months of 2006.
The financial industry announced 10,515 job cuts last month, the most for
any industry. "With no end in sight for the housing slump and home
foreclosures still soaring across the country, the economy remains at risk,"
noted John Challenger, CEO of Challenger, Gray & Christmas, in a statement.
"Consumer purchases may slow down because of the high price of gasoline,
mortgages adjusting up, reduced job creation and homes that are no longer
piggy banks."
The report is an anecdotal, non-statistical tally of job-cut announcements
that are reported in major media outlets. The report focuses only on job-cut
announcements, not actual layoffs, and it doesn't take into account new
hires or internal transfers at companies that have announced layoffs.
Challenger, Gray & Christmas Inc., an outplacement firm, tracks layoff
announcements and releases its Challenger employment survey monthly.
-By John McAuley
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