- WASHINGTON (AFP) -- American
employers swung a heavier jobs axe in January, announcing more than 100,000
cuts for the first time in three months, a closely watched survey showed.
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- Companies planned 117,556 cuts in January, traditionally
a tough month for the labor market, up 26 percent from December, said the
survey conducted for outplacement firm Challenger, Gray and Christmas.
-
- It was the biggest job-cutting figure since October.
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- "It is too early to tell if we are going to have
another year of heavy job cutting," said the company's chief executive,
John Challenger.
-
- "We typically see higher job cuts in January as
companies set into motion business plans and employment needs for the new
year."
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- In January 2003, employers had announced 132,222 job
cuts.
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- "One factor that might impact job-cut activity this
year is the escalation of offshore outsourcing, which could see some employers
eliminate jobs in America and shift the work to service providers in countries
such as India, China and the Philippines," Challenger said.
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- "Another factor affecting job cuts is the possibility
of increased mergers and acquisitions. We have already seen a couple of
large deals announced this year, one of which expected as many as 10,000
job cuts to take place as redundant positions are eliminated," he
added.
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- "This could be a big year for such transactions
as companies try to strengthen their position in the marketplace as the
recovery builds momentum," he said.
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- Workers in the consumer products industry were hardest
hit with 22,775 cuts, followed by the financial sector with 15,157, retail
with 14,016, food with 12,701 and industrial goods with 11,797.
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