Job Cuts in October Seen Topping 100,000
Job-cut announcements by U.S. employers in October totaled more than 100,000 for a second straight month, suggesting companies may trim workforces in anticipation of fewer orders, a private survey found.
The 101,840 job cuts measured by Challenger, Gray & Christmas Inc. represents a 41% decline from the 171,874 reported the same month a year ago, and a 5.6% decline from the 107,863 reported last month. The survey has not recorded two consecutive months of job losses exceeding 100,000 since January-February of 2003, according to Challenger.
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