Planned Layoffs Up Third Straight Month

Chicago, IL, Dec. 6, 2012 -- Planned layoffs at U.S. companies rose for the third month in a row in November, according to consulting firm Challenger, Gray & Christmas.

Employers announced 57,081 job cuts last month, the highest level since May and up almost 20% from 47,724 in October.

November's job cuts were also up 34.4% from a year ago.

The bankruptcy of Hostess in November accounted for 18,500 of the jobs lost.

"Job cuts this year have really been driven by a handful of large-scale cuts," Rick Cobb, executive vice president of Challenger, Gray & Christmas, said in a press release.

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