June 3, 2009
Job Cuts Down In May
The number of planned job cuts announced by U.S. employers fell 16 percent in May, to the lowest level since September.
Employers announced 111,182 cuts in May, compared with 132,590 in April, according to Challenger, Gray & Christmas Inc., a global outplacement consulting firm. Still, that number was 7.4 percent higher than the May 2008 level.
So far this year, employers have announced 822,282 cuts, compared with 394,193 for the same period last year.
Challenger said the second quarter typically has the smallest number of cuts, and the pace could accelerate in the fall.
WBJ Web Partners
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