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Challenger: 46,887 US Job Cuts Announced Boosted by Microsoft
The unexpectedly large layoffs announced by Microsoft helped push July job cuts to the second highest level of the year. In all, U.S.-based employers reported plans to reduce payrolls by 46,887 during the month, according to the report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc. July job-cut news was dominated by Microsoft, which announced plans to reduce its workforce by as many as 18,000. That is the largest downsizing in the company’s history. It is also the largest layoff announcement this year, surpassing fellow tech giant Hewlett-Packard’s announced plans to shed ... (full story)