“Planned job cuts increased by 7.1 percent to 40,559 in April from March, the latest job cut report released by outplacement firm Challenger, Gray&Christmas showed on Thursday.
From the same month a year ago, job cuts were up 11.2 percent and so far this year the number of job cuts has increased by 9.8 percent to 183,653.
But despite the year-on-year increase, the monthly average in the first four months of this year is below the 12-month average of last year, the report pointed out.
April’s job cuts were led by the education sector, with a total of 9,027 planned cuts, up 142 percent from March as school districts continue to be under pressure to cut costs amid massive state and local budget deficits. But the pace of downsizing in the sector fell 32 percent from a year ago, the report added…”
If you enjoy the content at iBankCoin, please follow us on Twitter
