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Job Cuts in May Reach Highest Level in More than a Year

Reuters (06/05/14)

Job cuts in May rose to the highest level in more than a year, according to Challenger, Gray & Christmas. Companies said they plan to cut 52,961 jobs, up 31% from April and the biggest one-month total since February 2013, when 55,356 job cuts were announced. The technology sector is facing the most job cuts—18,799—the highest number in two years. Most of the technology job cuts in May came from Hewlett-Packard Co.