Benefits November 6, 2001

Layoff Announcements Down But Not Much

November 6, 2001 (PLANSPONSOR.com) - American employers announced plans to cut 242,192 jobs last month, down from September's 248,332 but still the second highest monthly tally this year, according to outplacement firm Challenger, Gray and Christmas.
Reported by

It was the third month out of the past four that announced job cuts exceeded 200,000. October’s total was 453% higher than a year ago, according to the report.

But it wasn’t the airlines that topped the announcement list this month, according to the report  it was the telecommunications sector’s 42,347. Still, other five-figure reporting sectors cut a broad swathe, including:

  • computer
  • industrial goods
  • automotive
  • financial
  • food
  • leisure
  • retail

However, the report noted signs of growth in defense, insurance, health care, energy and social services in the aftermath of the September 11 attacks.

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