November sees rise in U.S. job cuts

Dec. 6, 2012 at 12:22 PM
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CHICAGO, Dec. 6 (UPI) -- U.S. employers announced 57,081 layoffs in November, the second highest monthly total of 2012, a private outplacement firm said Thursday.

Outplacement specialist Challenger, Gray & Christmas said announced job cuts rose 20 percent from October, when there were 47,724 layoffs announced.

Job cuts have now risen for three consecutive months with a total for November that is 34 percent higher than job cuts announced in November 2011.

Through the first 11 months of the year, U.S. firms have announced 490,806 job cuts, 13 percent below the pace set in 2011, when 564,297 layoffs were announced through November.

The food industry topped the list in November with 19,709 cuts announced, the lion's share coming from the announced liquidation of Hostess Brands, which takes with it 18,500 jobs.

This was followed by the computer sector, which included 3,313 layoffs announced in November.

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