By Kevin Kastner
WASHINGTON (MNI) – There were 53,486 layoff intentions announced in
January, up from 41,785 in December and higher than the 38,519 job cuts
announced in January 2011, job placement firm Challenger, Gray and
Christmas, Inc. said in a report released Thursday. The data are not
seasonally adjusted.
Layoffs in January were led by the retail sector, which reported
12,426 job reductions in the month. By comparison, there were 5,755 job
cuts announced in the retail sector in January 2011.
Challenger said that January job cuts are usually the largest of
the year. However, the report noted that the layoffs of seasonal holiday
workers are usually not announced, so the jump in retail layoffs cannot
be attributed to that seasonal trend.
Instead, the cuts in the retail sector in January are likely
due to “restructurings, store closings, and other cost-cutting
measures.”
In other data released, hiring intentions fell to 7,568 in January
from 14,078 in December and were down sharply from 29,492 in January
2011. January hiring plans were led by the automotive sector, which
announced plans to hire 3,675 workers.
** Market News International Washington Bureau: 202-371-2121 **
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