Planned Job Cuts Highest in Two Years

From Reuters:



Employers announced 115,730 planned job cuts last month, more than double August’s total of 51,114, according to the report from consultants Challenger, Gray & Christmas, Inc.

The figure was the highest since April 2009 when 132,590 layoffs were announced.

September’s job cuts were also much higher than the same time a year ago, tripling from the 37,151 job cuts announced in September 2010. For 2011 so far, employers have announced 479,064 cuts, up 16.5 percent from the first nine months of 2010.

The data comes ahead of Friday’s monthly report on total U.S. nonfarm payrolls from the U.S. Labor Department which is expected to see a gain of 60,000 payrolls last month, according to a Reuters survey, after being unchanged in August.

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