Planned Job Cuts Hit Four-Year Low

Chicago, IL, May 10, 2010--Employers are planning fewer jobs cuts than at any time in the last four years, according to outplacement firm Challenger Gray & Christmas.

Employers planned 38,326 layoffs in April, a 43% decrease from the 67,611 layoffs planned in March, which had seen a surge in planned cuts. The April figure is the lowest since July 2006 (37,178). The previous low was 42,090 in February.

April’s figure came in 71% below planned cuts in the same month of 2009 (132,590).

Through the first four months of 2010, employers announced 219,509 layoffs, down 69 percent from the corresponding period last year. The current pace — which averages to 54,877 cuts a month — could put 2010 job cuts below 700,000 for the first time since 2000, Challenger Gray & Christmas said.