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IPFS News Link • Economy - Economics USA

U.S. job cuts spiked in March

U.S. employers announced plans to reduce payrolls by 67,611 jobs in March, a 61 percent increase from February, outplacement consultant Challenger, Gray & Christmas Inc. said Thursday. The sharp rise in March job cuts contrasts with a steep decline in lost jobs in February, which hit a four-year low, Challenger Gray said. February announced job cuts totaled 42,090. Despite the increase in job losses in March and January, the pace of downsizing is well below year-ago levels, the firm said.,