The number of planned layoffs at U.S. companies climbed 4.9% in September after reaching a 20-month low in August, according to a report from Challenger, Gray & Christmas. Still, the new data represent a 15-year low in planned job cuts for the month of September, which were 71% lower year-over-year.
“Layoffs are definitely at pre-recession levels. Unfortunately, hiring has not returned to those levels. A combination of factors, including the upcoming election, ongoing instability in Europe, growing signs of weakness in Asia, and a host of other issues, are keeping companies from making any major expansion or hiring moves,” says John Challenger, chief executive officer of Challenger, Gray & Christmas.