Planned layoffs jump up in October: Challenger

From marketwatch.com

Led by the automotive sector, planned job cuts jumped up 41% in October to almost 48,000, the highest level since May, outplacement consultancy Challenger, Gray & Christmas said Thursday. "The final three months of the year tend to see heavier downsizing activity as companies make year-end adjustments to meet earnings goals and to prepare for the new year," said John Challenger, chief executive officer of Challenger, Gray & Christmas. "Certainly, the deluge of weak third-quarter earnings reports that resulted from declining sales here and abroad does not bode well for workers as 2013 approaches." Job cuts ... (full story)