Planned Job Cuts Fall Sharply in October

Chicago, IL, Nov. 2, 2011 — The number of planned job cuts in the U.S. fell 63% to 42,759, the lowest level since June, according to outplacement firm Challenger, Gray & Christmas.

The decline in job cuts came from the government and financial sectors, which are still the top job-cutting industries for the year. It also comes a month after September’s 28-month high.

Year-to-date, employers have announced 521,823 cuts, up 16% over the same time period in 2010 but less than half the level of the first 10 months of 2009.