A Reuters story says a new report from consultancy Challenger, Gray & Christmas indicates planned layoffs by employers have climbed 26% over June's figures. Planned layoffs at U.S. companies for July exceed 100,000 jobs.
Planned layoffs at U.S. companies jumped 26 percent in July from June, depicting further deterioration in the labor market, a report showed on Monday.
Planned layoffs at U.S. companies totaled 103,312 in July, compared with June's 81,755, employment consulting firm Challenger, Gray & Christmas Inc said.
Announced job cuts at U.S. companies last month were the second highest total so far in 2008, more than double the 42,897 a year earlier, the report said.
eWeek takes a close look that the report to see what it means for IT workers. A couple other articles on the planned layoffs report can be found on TheStreet.com and Forbes.
The economy shed over 50,000 jobs in June so increasing signs of more layoffs to come is not a good thing.
