Jobs cut pace picks up again

New York — Ending three straight monthly drops in the pace of job cuts announced by U.S. companies, the pace of layoffs jumped up by almost a third in January, climbing 32 percent above December's level, to a total of 212,704 work force reductions.

Challenger, Gray & Christmas, an international outplacement services company that tracks job cuts nationwide, said January's pace of layoffs was the third highest month since Challenger began tracking job cuts in 1993. It marked the fourth time in the past seven months that job cuts exceeded 200,000.

The pace of job cuts last month was 50 percent higher than the 142,208 layoffs announced a year earlier in January 2001. Since the terrorist attacks on Sept. 11 jolted the American economy, the number of announced job cuts is just shy of a million, at a level of 998,699.

Home Textiles Today Staff | News & Commentary

Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Research Store

Featured Video

Subscribe to
Home Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT November 2017 cover

See the November 2017 issue of Home Textiles Today. In this issue, we look at Complex Colors, Complex Times--Trend forecasters and interior designers weigh in on 2018 palettes and motifs.  Other articles include: Data: Exclusive HTT soft window research; Innovation: Material Changes conference preview; Country report: India invests in the future and Fabrics: Showtime preview.  See details!