January Layoffs at Two-Year High

Chicago, IL, March 2, 2015—Job cut announcements rose to their highest level in nearly two years in January, as falling oil prices prompted cost-cutting efforts in energy and related industries, reports Challenger, Gray, & Christmas, Inc.

In total, U.S.-based employers announced plans to cut 53,041 jobs from their payrolls at the start of 2015, 40% of which are directly related to oil prices, says the outplacement firm.

The January figure was an increase of 63% from the 32,640 planned layoff number announced in December. In addition, January 2015’s figure is 18% higher than the January 2014 rate.