Announced job cuts spike 60% | announced, cuts, job - Report - The Orange County Register: "'July marks the third consecutive increase we have seen in monthly job-cut announcements, which certainly seems to provide additional evidence that the recovery has stalled,' said John A. Challenger, CEO of Challenger, Gray & Christmas.
Big corporations, including Merck & Co., Borders, Cisco Systems, Lockheed Martin and Boston Scientific let the July layoff announcements. These five companies alone account for 38,000 cuts or 57% of the total.
'The spurt of layoff announcements in July also stood out because they came from major employers in bellwether industries, all within a span of a few days.,' Challenger said. 'The spate of job cuts should definitely raise some red flags, but it is important to keep the monthly job-cut total in perspective...the last year has seen some of the lowest monthly job-cut totals since the late 1990s.'"
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