Job Cut Report
Job cut announcements surged to their highest level in nearly two years, as falling oil prices prompted cost-cutting efforts in energy and related industries. In all, U.S.-based employers announced plans to shed 53,041 jobs from their payrolls to start 2015; with 40 percent of those directly related to oil prices.
Job cuts declined for a second consecutive month in December, as U.S.-based employers announced plans to reduce payrolls by 32,640. It was the third lowest monthly total of 2014; a year that saw the fewest planned job cuts since 1997, according to the report Thursday from global outplacement consultancy Challenger, Gray & Christmas, Inc.
Downsizing activity by U.S.-based employers declined by 30 percent in November, with 35,940 planned job cuts announced during the penultimate month of 2014, according to the report Thursday from global outplacement consultancy Challenger, Gray & Christmas, Inc.
The November slowdown comes just one month after job cuts surged 70 percent to 51,183 in October. The November total was 21 percent lower than the 45,314 job cuts announced the same month a year ago.
The unexpectedly large layoffs announced by Microsoft helped push July job cuts to the second highest level of the year. In all, U.S.-based employers reported plans to reduce payrolls by 46,887 during the month, according to the report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.