Downsizing On The Rise In June
Planned job cuts increased on a month-by-month basis by 11.6 percent in June, according to the latest report from Chicago-based Challenger, Gray & Christmas.
On an annual basis, planned layoffs increased 5.3 percent.
While downsizing may have climbed in June, the first half of 2011 was still relatively positive. Job cuts were at their lowest level during the six months of the year since 2000. Employers have announced 245,806 jobs cuts this year, which is down 17.4 percent from the first half of 2010.
The industries with the most downsizing activity year-to-date are aerospace/defense and financial services.
In Massachusetts, there were 916 job cuts announced in June, according to the report. That's the second highest number of cuts in New England, behind only New Hampshire, where employers intend to lay off more than 1,500 workers.
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