Washington, DC, December 7, 2005--Led by sharp cuts in the automotive industry, planned job reductions by major U.S. corporations increased 22% in November to 99,279, according to a monthly tally released Wednesday by outplacement firm Challenger, Gray & Christmas.
Planned layoffs have increased three months in a row. Layoffs were down 5% from November 2004's 104,530. So far in 2005, corporations have announced 964,232 job cuts, up 3.6% from the year-to-date total a year ago.
More than 10% of the job cuts this year have come from the struggling automotive sector, which has announced 105,886 cuts this year, including 16,870 in November.
