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By Edward Cone on 2009-11-06
Planned job losses fell for the third month in a row in October, down 16% from September to 55,679, according to Challenger, Gray & Christmas. Despite the deceleration, it's been another brutal year. Here's a look at where most cuts were expected, and why.
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17,146 jobs lost in October due to restructuring. 100,515 for the year to date.
15,909 jobs lost in October due to companies closing. 102,625 for the year to date.
10,242 jobs lost in October due to cost-cutting. 184,273 year to date.
5,677 jobs lost in October due to "economic conditions." 429,847 year to date.
3,632 jobs lost October due to demand downturn. 177,082 year to date.
3,000 jobs lost in October due to Merger/Acquisition. 62,863 year to date.
Other leading reasons for cuts (YTD): Bankruptcy 50,417 Outsourcing 3,100 Technological Update 331 "No Clear Reason" 367
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