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Job Cut Announcements Down for Third Month

MarketWatch (06/06/13) Steve Goldstein

According to Challenger, Gray & Christmas, U.S. employers said in May that they would reduce their payrolls by 36,398, down 4.5% from April and 41% from May 2012. In the first five months of the year, 219,560 job cuts were announced, a decline of 11% from the same period a year ago. Most of the planned layoffs are in the financial sector, while media accounts for the biggest percentage gains in job cuts.