Wednesday, March 30, 2011

Pace of Downsizing Fell in March; 1st Quarter Job Cuts At Lowest Level Since Q1 1995

The pace of downsizing declined in March, according to Challenger, Gray & Christmas.

Employers announced plans to reduce payrolls by 41,528 jobs during March, down 18 percent from 50,702 job cuts announced in February and down 39 percent from a year ago.

The public sector dominated monthly job cuts, accounting for 19,099 or 46 percent of all March layoffs. March's public sector job cuts were at its highest level, since March 2010 when 50,604 public sector jobs were cut.

Through the first quarter, employers announced 130,749 job cuts, the lowest first quarter total since 1995.

Read the press release.

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