Planned Job Cuts Rise in February

Chicago, IL, March 7, 2013 -- Planned layoffs by U.S. companies rose 37% in February from January, mostly driven by job cuts in the financial sector, according consulting firm Challenger Gray & Christmas.

Employers in February said they planned to cut 55,356 jobs, 7% more than the same period a year ago.

The financial sector accounted for 21,724 of the cuts.