Planned Job Cuts Rise in April

Chicago, IL, May 1, 2014 -- Planned job cuts increased in April, according to outplacement firm Challenger, Gray & Christmas.

Employers planned to cut 40,298 jobs in the month, up 17% from March.

The retail and financial services sectors faced the steepest cuts.

"The pace of downsizing remains relatively low. However, while the economy still has a lot of room for growth, it is unlikely that monthly layoffs will experience a precipitous decline," said CEO John Challenger in a press release.