US Challenger: 61,887 Layoffs in May vs 40,559 April

Author: Market News International | Category: News

By Kevin Kastner

WASHINGTON (MNI) – There were 61,887 layoff intentions announced in
May, up from 40,559 in April and from the 37,135 job cuts announced in
May 2011, job placement firm Challenger, Gray and Christmas, Inc. said
in a report released Thursday. The data are not seasonally adjusted.

Layoffs in May were led by the computer sector, which reported
27,754 job reductions in the month. About 27,000 of those cuts came from
Hewlett-Packard

“We may see more job cuts from the computer sector in the months
ahead,” said John Challenger, chief executive officer of Challenger,
Gray & Christmas.

Challenger noted that while technology spending is up, that
spending seems to be focused on a smaller number of companies. The
remaining firm are forced to redistribute their workforce or lay off
workers.

In other data released, hiring intentions fell to 7,722 in May from
11,794 in April, and were down from 10,248 in May 2011. May hiring plans
were led by the automotive sector, which announced hiring plans for
2,474 new workers.

** MNI Washington Bureau: 202-371-2121 **

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