Job cuts announced by U.S.-based companies declined sharply in May as the energy sector took another pause following successive rounds of big payroll reductions.
Employers laid off 33 percent fewer workers in May from the previous month, global outsourcing firm Challenger, Gray & Christmas reported Thursday. Companies announced 41,034 cuts in the last four weeks, compared with 61,582 in April.
The report comes a day before the Labor Department releases its closely watched monthly jobs data for May.
To date, employers have handed out 242,830 pink slips in 2015, a 13 percent increase from the same period last year.
The financial sector, having announced 5,539 layoffs in May, saw the highest number of workplace reductions.
"We saw companies, particularly JPMorgan, dominating this space this month, announcing cuts to teller positions that are kind of being outdated. As technology has changed, they've kept many of those employees on," John Challenger, CEO of Challenger, Gray & Christmas, told CNBC's "Squawk Box."