Challenger Job-Cut Report
Released On 11/6/2013 7:30:00 AM For 11/6/2013 7:30:00 AM
Prior Actual
Announced Layoffs - Level 40,289 45,730
Highlights
Layoff intentions are picking up, totaling 45,730 in October and swollen by a mass layoff notice from Merck. Challenger's count has averaged more than 45,500 the past 3 months vs just under 38,000 in the prior 4 months.
Most of the 10,585 October decline in the pharmaceutical sector came from Merck which is cutting its workforce by 8,500 over the next 2 years. The second most layoff announcements are from the financial sector where the drop in foreclosures continues to cut staffing needs.
