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Job Cuts Decline Slightly In July
EMPLOYERS PLAN TO CUT 37,701 FROM PAYROLLS
CHICAGO, August 1, 2013 –
Job cuts declined slightly in July, as employers announced plansto reduce payrolls by 37,701 workers, down 4.2 percent from 39,372 planned layoffs in June,according to the latest report on monthly job cuts released Thursday by global outplacementconsultancy Challenger, Gray & Christmas, Inc.Last month’s total was 2.3 percent higher than a year ago, when 36,855 planned job cuts wererecorded. Employers have now announced 296,633 job cuts since January 1, which is 7.3 percent fewer than the 319,946 job cuts announced in the first seven months of 2012. At thecurrent pace of downsizing, which is averaging 42,376 job cuts per month, 2013 will come in below the 2012 year-end total of 523,362, which was the lowest annual total since 1997(434,350).July job cuts were somewhat offset by announced hiring plans that will add 9,728 new workersto employer payrolls in the coming weeks and months. These include at least 5,000 new workers being hired by online retail giant Amazon.com to meet increasing demand.July workforce reductions were led by the health care sector, which announced 6,843 planned jobcuts. That represents the highest number of cuts for this sector since 9,558 health care job cutswere recorded in November 2009. Health care organizations have now cut 29,794 jobs this year,59 percent more than the 18,770 planned job cuts announced by this point in 2012.