For nearly two months, a slew of big American and foreign companies have been announcing major layoffs, clouding the outlook for the employment picture.
According to a report by outplacement consultancy Challenger, Gray & Christmas, September saw a 43 percent increase from the previous month in terms of job cuts. And cuts were 93 percent higher than the 30,477 planned layoffs announced the same month a year ago.
"You don't want to overexaggerate, but there's no question that layoffs are heavier this year," said CEO John Challenger. "It suggests more pressure on companies that aren't performing as well to take action now."