Planned Layoffs Drop in March

    April 5, 2005

The number of layoffs planned by U.S. firms in March dropped 20% after rising in February.

Outplacement firm Challenger, Gray & Christmas says that announcements of pending job cuts reached their lowest level since August.

According to a GLOBEANDMAIL.COM article,

“For the month, U.S. employers announced plans to cut 86,396 jobs, fewer than in February but still a 27-per-cent increase from March, 2004. In February, companies announced plans to cut 108,387 jobs.

So far in 2005, the pace of U.S. job cutting is ahead of last year by 9.2 per cent, Challenger said. Through the first quarter, a total of 287,134 job cuts have been announced.”

The number of new jobs created in March was only 110,000, half of Wall Street expectations.

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