Challenger said Friday that jobs cuts announced last month by all U.S.-based employers declined slightly, admitting its estimate of a 41 percent surge was incorrect, as the firm reported on Thursday. It also acknowledged that the estimate of 20,000 cuts it gave for Ford should have been 1,400.
"Ford has reached out and informed us that the 20,000 number was incorrectly reported several weeks ago. Many major media outlets reported the 20,000 number. The announcement now listed in our report is for a voluntary separation program for ten percent of Ford's corporate staff – a layoff of 1,400," Challenger said in its latest statement.
Challenger's new total of job-reduction plans announced in May was revised to 33,092, 9 percent lower than the 36,602 job cuts announced in April and 9 percent higher than in May 2016.