Challenger Job Cuts Fall 9.4% in June

July 5, 2012 7:33 AM EDT
Challenger Job Cuts Fall 9.4% in June:

From the release:
Planned layoffs fell to a 13-month low in June, as U.S.-based employers announced job cuts totaling 37,551 during the month. That is down 39 percent from the 61,887 announced job cuts in May, according to the latest report on downsizing activity released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The June total is 9.4 percent lower than the 41,432 planned job cuts announced during the same month a year ago. It is the lowest monthly total since May 2011, when employers announced plans to eliminate 37,135 workers from their payrolls.

At the midway point of 2012, job cuts total 283,091, an increase of 15 percent from a 2011 six-month total of 245,806. The pace of downsizing has remained relatively steady throughout the year, with job cuts in the second quarter totaling 139,997, just two percent fewer than the 143,094 job cuts announced during the first three months of the year. Second quarter job cuts were up 22 percent from last year, when employers announced 115,057 layoffs from April through June.

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