Planned Layoffs Hit 11 Month High in February

Chicago, IL, March 2, 2011 -- The number of planned layoffs at U.S. firms rose in February to its highest level in 11 months, according to consultants Challenger, Gray & Christmas, Inc.

Challenger said government and non-profit employers had the greatest change.

Employers announced 50,702 planned job cuts last month, the highest level since March 2010 and a jump of 32 percent from January's 38,519, Challenger said.

"It is too soon to say whether the increases in January and now February represent a trend," John Challenger, chief executive officer of Challenger, Gray & Christmas, said in a press release.