Planned Job Cuts Down 39% From Last Year

Chicago, IL, March 30, 2011 — The number of planned layoffs at U.S. companies declined in March, despite continued job cuts in the public sector, outplacement firm Challenger, Gray & Christmas said.

Employers announced 41,528 planned job cuts this month, down 18% from February and down 39% from a year ago.

Overall, 130,749 job cuts were announced in the first three months of the year, marking the lowest rate of downsizing since 1995, the firm said.

Announced first-quarter job cuts for 2011 were also down 28% compared with the same period of 2010.

Government has led job reduction this year, with 19,099 planned cuts in March, the highest in 12 months, the report said.