Planned Job Cuts Plunge from Year Ago

Chicago, IL, Dec. 5, 2013 -- Planned job cuts in November edged down 0.9% from October but were down 21% from a year ago, according to outplacement firm Challenger, Gray & Christmas Inc.

Employers planned 45,314 layoffs in November, compared with the 45,730 job cuts recorded in October and 57,081 a year ago.

It was the second consecutive month that job cuts came in lower than the year-ago number.

The financial sector has recorded the most job cuts so far this year, with 59,189 layoffs.