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Announced job cuts surged in November

Dec. 29, 2010 at 5:48 PM   |   Comments

CHICAGO, Dec. 29 (UPI) -- Announced job layoffs at U.S. firms rose 28 percent in November over October, employment research firm Challenger, Gray & Christmas said Wednesday.

The number of announced job cuts was the highest since March, but the year's total through November remain 60 percent below the number for the first 11 months of 2009, the firm said.

In November, U.S. firms announced they were eliminating 48,711 jobs.

In November, 79 chief executive officers left their jobs, the lowest number of CEO departures since April.

To date, 1,227 CEOs have left their jobs this year, Challenger, Gray & Christmas said.

© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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