Planned Job Cuts Rise, but Fall from Year Ago

Chicago, IL, Jan. 31, 2013 -- Employers plan to cut more than 40,000 jobs this month, according to outplacement firm Challenger, Gray & Christmas, but the number is near historical lows for January.

The firm said the January number is up 24% from December, but down 24% from a year ago
Records dating back 20 years only show two years with fewer cuts in the first month of the year, the firm said.

Challenger also noted that companies expected to make more than 60,000 hiring announcements this month.