November 12, 2010
Mass Layoffs Slow
By Brandon Butler
Fewer companies initiated mass layoffs during the third quarter compared to last year and earlier this year, according to the U.S. Bureau of Labor Statistics.
From July to September there were 1,297 mass layoff events nationwide impacting 187,000 workers.
During the same time period last year, there were more than 2,000 mass layoff events resulting in 345,000 workers losing their jobs.
The average size of layoffs fell to 144, the lowest level since 1995.
A reported 47 percent of companies plan to recall at least some of the workers laid off, which is up 31 percent compared to last year.
A mass layoff is defined as more than 50 employees from one place of employment losing their jobs for more than one month.
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