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.

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.

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