January Layoffs Set A New Record

February 7, 2001 (PLANSPONSOR.com) - American companies announced a record number of layoffs in January, according to outplacement firm Challenger, Gray & Christmas.

The 142,208 layoffs announced topped the old record, December’s 133,713 and included massive cuts at DaimlerChrysler and Lucent Technologies.

It was the first time that back-to-back monthly cuts totaled more than 100,000 since Challenger began tracking monthly layoff announcements in 1993.

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Not surprisingly, the automotive sector led all industries with 34,959 jobs lost, while telecommunication companies reported 22,060 planned layoffs, and retailers announced 15,344 job cuts.

Internet/e-commerce firms trimmed 11,887 layoffs, while computer companies reported cutting 10,904 jobs.