February planned layoffs highest in 11 months: Challenger (Reuters)

Wednesday, March 2, 2011 5:01 AM By dwi

NEW YORK (Reuters) – The sort of designed layoffs at U.S. firms chromatic in Feb to its maximal take in 11 months as polity and non-profit employers permit workers go, a inform showed on Wednesday.

Employers declared 50,702 designed employ cuts terminal month, the maximal take since March 2010 and a jump of 32 proportionality from January's 38,519, according to the inform from consultants Challenger, Gray & Christmas, Inc. Layoffs were 20 proportionality higher than the 42,090 declared in Feb of terminal year, rating the prototypal year-over-year process since May 2009.

Even so, the inform said the measure of employ cutting relic relatively subdued. Job cuts for Jan and Feb defence at 89,211, well below the 113,572 employ cuts that were declared in the prototypal two months of 2010.

"It is likewise presently to say whether the increases in Jan and today Feb equal a trend," John Challenger, honcho executive tar of Challenger, Gray & Christmas, said in a statement.

Challenger said worries over rising pedal prices could impact staffing decisions over the incoming six months.

"At the very least, rising forcefulness costs could force employers to defer hiring plans. At worse, increased costs could blackball the breakable feat and goad another round of layoffs," Challenger said.

The polity and non-profit sector led layoffs with 16,380 employ cuts, up 154 proportionality from January. Retail followed with a 44 proportionality process in designed cuts to 8,360.

The accumulation comes ahead of Friday's key non-farm payrolls inform from the government, which is expected to show the frugalness additional 185,000 jobs in Feb after exclusive a small acquire in January. (Reporting by Leah Schnurr, Editing by Chizu Nomiyama)


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