Wednesday, November 05, 2003

Layoffs rise 175% in October

NEW YORK (CNN/Money) - U.S. job-cut announcements rose in October to their highest level in a year, according to a report Tuesday by an outplacement firm that keeps track of job cuts.

U.S. businesses announced 171,874 job cuts in October, up 125 percent from September's level of 76,506, according to Chicago-based Challenger, Gray & Christmas. It was the greatest number of job cuts since 176,010 in October 2002.





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