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First Quarter Layoffs Highest in a Year

Bloomberg Businessweek (04/04/13)

Companies announced 49,255 job layoffs in March, an 11% decline from February, but an increase of 30% from a year ago, according to outplacement firm Challenger, Gray & Christmas. In four of the past six months layoffs have exceeded the rate seen in the same month a year ago. Furthermore, the first quarter of 2013 saw more announced layoffs than any quarter since 2011. Chief executive officer John Challenger says the retail environment is of particular concern. “While consumer spending is up in 2013, many retailers have been fighting for their lives since the end of the recession,” Challenger says.