Planned layoffs tick down in July: Challenger
WASHINGTON (MarketWatch) -- Layoffs announced in July declined 2% from June to about 37,000, the lowest level this year, outplacement consultancy Challenger, Gray & Christmas said Thursday. The financial sector led July's layoff plans. "The situation in Europe is far from being resolved and ongoing weakness here could continue to take a toll on the financial sector," said John Challenger, chief executive. He added that layoffs plans may increase in coming months. "Employers may be in a pre-election holding pattern. Historically, the fourth quarter tends to be the heaviest jobcutting period of the year," Challenger said. July's layoffs plans were down 45% from the prior year.