US DATA: Oct Challenger job cuts 47,724, +41% from 33,816 in Sept and
+12% yoy from 42,759 in Oct’11. This was the most downsizing in five
mos, reflecting cuts after poor earnings announcements, Challenger said.
Oct was the highest job-cut month since May, led by blue chips (Ford,
Dupont, Colgate, Dow). But Challenger reminds that YTD layoffs “are
still well below last year’s pace” at 434k vs 522k last yr.