For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.
Benefits April 5, 2001
March Pink Slips Hit New High
April 5, 2001 (PLANSPONSOR.com) - American firms
were handing out pink slips in March at the fastest pace
since 1993, according to outplacement firm Challenger, Gray
& Christmas.
Reported by Nevin E. Adams
March’s 162,867 job cuts were nearly triple the level a year ago, and over 100,000 for the fourth month in a row, according to the Chicago-based firm. This past March was the highest job-cut month since the survey began in 1993.
The Challenger report said 406,806 job cuts were announced in the first quarter, 187% higher than a year ago.
The report comes ahead of Friday’s March unemployment report, which is expected to show a slight increase to 4.3% from 4.2% in February.