Cuts Drop Some

May 29, 2001 ( job cuts appear to be slowing in May, after an all-time high in April according to a new survey.

According to outplacement firm Challenger Gray & Christmas, May’s 13,419 reported job cuts are down 24% from April’s tally.

However the firm said the total 64,983 cuts made so far this year is already 60% higher than the total layoffs in the sector for all of 2000.

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For the third month in a row most of the cuts came from Internet technology, or infrastructure companies. Consumer service companies were second-worst hit.

A year ago, the sector reported just 2,660 job cuts.