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February Job Cuts Down; One-Third of This Year’s Cuts Due to Oil

Challenger, Gray & Christmas Inc. News Release (03/05/15)

Employers based in the U.S. announced 50,579 workforce reductions worldwide in February, down 5% from 53,041 the month before but up 21% from the same time last year, according to Challenger, Gray & Christmas Inc. Employers planned 103,620 layoffs in January and February, up 19% from the same time last year. Thirty-eight percent of all workforce reductions in the first two months of 2015 were in the energy sector, which has been hurt by falling oil prices.