Planned Job Cuts Remain Low

Chicago, IL, Oct. 6, 2010–Planned layoffs at U.S. firms rose slightly in September, though it was the second lowest level of the year, according to outplacement consultancy Challenger, Gray & Christmas, Inc.

Employers announced 37,151 planned job cuts last month, up 7% from the 34,768 job cuts reported in August.

“The low job-cut numbers we are seeing in almost every sector do not necessarily translate into increased hiring,” John Challenger, chief executive officer of Challenger, Gray & Christmas, said in a press release.

“There is hiring going on in the economy, but it is not enough make a discernible dent in the number of unemployed,” he said.

The September job-cut figure was down nearly 50% from a year ago, when the report found 66,404 planned layoffs.

Overall, employers announced 411,272 job cuts so far this year, which was 64% below the 1,136,908 layoffs announced by this point last year.