Planned layoffs at companies rose for the second month in a row in February as the financial sector cut the most employees in over a year, a report showed on Thursday.
Employers announced 55,356 planned job cuts last month, up nearly 37 percent from 40,430 in January, according to the report from consultants Challenger, Gray & Christmas, Inc.
February’s job cuts were 7 percent higher than the 51,728 job cuts announced the year before. For 2013 so far, employers have announced 95,786 layoffs, down 9 percent from the first two months of 2012.
The financial sector dominated cuts last month, with firms announcing 21,724 layoffs, the most since September 2011. That was nearly three times the amount of job losses announced in January.
Chosen excerpts by Job Market Monitor
via Planned layoffs rose for second month in a row in February: Challenger | Reuters.
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