Chicago, IL, February 1, 2007--The number of corporate job cuts announced in January rose 15.2% from the number reported in the prior month for a total of 62,975 according to a Challenger, Gray & Christmas survey released Thursday.
Job cuts were 39.1% lower this January than last year, when there were 103,466 job cuts. This was the ninth straight month that job-cut announcements were below their year-earlier level.
The telecommunications industry announced 9,275 job cuts last month, the most for any industry.
"It's too early to tell if these trends will continue as the year proceeds," noted John Challenger, CEO of Challenger, Gray & Christmas in a statement.
The report is an anecdotal, non-statistical tally of job-cut announcements that are reported in major medial outlets. The report focuses only on job-cut announcements, not actual layoffs, and it doesn't take into account new hires or internal transfers at companies that have announced layoff.
