Benefits October 4, 2001

Record Number of Mass Layoffs in September

October 4, 2001 (PLANSPONSOR.com) - The number of US job cuts announced in September was the highest so far this year, according to research from Challenger Gray and Christmas.
Reported by

Announced job cuts reached 248,332 in September, up 77% from August when companies announced 140,019 layoffs, and four times higher than the number of layoff announcements in September last year.

Over four-fifths of the month’s job cut announcements occurred after the terrorist attacks of September 11, particularly those in the transportation industry.

In fact, the attacks pushed the sector into the top five job-cutting industries for the first time since January 1997, according to the research. The telecommunications and technology sectors also experienced a high number of layoffs.

Geographically, California is the largest job-cutting state this year, with 221,589 announced so far.


 

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