Job Cuts Fell 40.2% in April
Chicago, IL, May 3, 2018-Job cuts announced by U.S.-based employers fell 40.2% in April to 36,081, the second lowest monthly total for the year, according to a report released by global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc.
April’s total belies a trend for increased cuts after announcements in March hit a 23-month high of 60,357. March’s total was the highest since April 2016, when 64,141 job cuts were announced.
“Most of the cuts in March came from a single announcement, but an increase in large-scale job cut announcements could be on the horizon,” said John Challenger, chief executive officer of Challenger, Gray & Christmas, Inc.
“With rising wages, near full employment, and solid job creation, we may be in for a market correction over the upcoming months,” added Challenger.