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Announced Job Cuts Rise From Year Ago

Announced job cuts in April by employers are higher than last year.  Figures released this morning by Chicago-based Challenger, Gray & Christmas indicate planned firings increased eleven-percent to 40-thousand-559 from April 2011.  The report says education is the front-runner in handing out pink slips, with just over nine-thousand layoffs planned in April.  Still, the pace of reductions in education so far this year is down 32-percent compared to the same time last year.  Company CEO John Challenger says, quote, "We do not foresee a sudden upsurge in downsizing activity."  He adds that the monthly totals remain well below levels that would signal a reversal in the recovery.

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