Employers announced plans to shed 115,730 workers from their payrolls in September, making it the worst job cut month in over two years, according to a report issued by Challenger, Gray & Christmas.
September's announced job cuts were 126% higher than August job cut announcements of 51,114 and 212% higher than September 2010 announcements. September's job cuts is the highest since April 2009, when 132,590 job cuts were announced.
To date, U.S.-based employers have announced 479,064 planned layoffs in 2011, a 16.5% jump from the same point last year, when job cuts totaled 411,272.
The government sector has accounted for one-third of the announced layoffs so far in 2011, followed by the financial sector, which has announced 54,013 planned layoffs between January 1 and the end of September.
On the other hand, employers announced plans to hire 76,551 workers during September.
Read the press release.