Employers Planned More Layoffs in November

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Planned job cuts at U.S. companies climbed during November, a report by employment consulting firm Challenger, Gray & Christmas said, another sign of sluggishness in the labor market. U.S. companies announced 104,530 layoffs in November, up from 101,840 in October.


This is the first time since early 2002 that job cuts have exceeded 100,000 for three or more consecutive months. The report said this kind of job shortfall could prompt consumers to curtail holiday spending.


The telecommunications industry suffered the most job cuts, with the loss of 48,804 positions 50 percent of the sector’s total job cuts for the year occurring in the past three months. The automotive industry has also suffered deep cuts since September, eliminating a total of 23,936 positions.

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