Layoff announcements surged in May

Employers announced plans to lay off 61,887  workers in May, the most since last September, the global outplacement firm Challenger, Gray & Christmas said in in its latest job-cut report.

The May total was 53 percent above the April figure, which was 40,559, and 67 percent higher than the number in May 2011. That marks the fourth year-over-year increase in announced layoffs this year, a sobering trend.

This year, employers have announced 245,540 layoffs, up 20 percent from the first five months in 2011. The total for 2012 is, however, below what it was for the  first five months in 2010 and in 2009.

The big job cuts last month came in the computer industry, largely due to Hewlett-Packard’s announcement of more than 27,000 layoffs.

John Challenger, CEO, said more job cuts in the computer sector may be coming.

The food industry also experienced a high number of layoffs in May.

2 comments Add your comment

Nobama

May 31st, 2012
10:29 am

Glad I’m a 1%er!

Shall I drive the BMW or the Mercedes to lunch today?

buyin

May 31st, 2012
1:28 pm

I thought the economy was supposed to be getting better??? Instead, it’s getting worse–what happened???