The nation’s employers announced plans to eliminate 50,504 workers from their payrolls in October. More than one-quarter of those were oil-related job cuts, which climbed to a six-month high, according to the latest layoff report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
"And keeping pay and bonus percentages constant has been made possible only through cost-saving layoffs. U.S.-based energy firms announced 60,500 job cuts in the first six months of 2015, compared with fewer than 4,000 in the same period last year, according to job placement firm Challenger, Gray & Christmas."
Job cuts increased by about 10 percent in June, as employers announced plans to reduce payrolls by 44,842 workers during the month. Meanwhile, heavier-than-expected downsizing throughout the first half of 2015 pushed the midyear total to its highest level since 2010, according to a report released Wednesday by global outplacement consultancy Challenger, Gray & Christmas, Inc.