US DATA: Challenger reports 42,759 planned layoffs in Oct, down sharply
from 115,730 in Sept, but up from 37,986 a year ago. The government and
financial sectors, which led the cuts tally in Sept, announced far fewer
layoffs in Oct, but Challenger cautioned that both sectors are likely to
announce larger cuts in the coming months. At the same time, hiring
plans surged again in October, led by seasonal retail hiring that was
stronger than both September 2011 and October 2010. See MNI main wire.