Jobs cut pace picks up again
February 6, 2002,
New York — Ending three straight monthly drops in the pace of job cuts announced by U.S. companies, the pace of layoffs jumped up by almost a third in January, climbing 32 percent above December's level, to a total of 212,704 work force reductions.
Challenger, Gray & Christmas, an international outplacement services company that tracks job cuts nationwide, said January's pace of layoffs was the third highest month since Challenger began tracking job cuts in 1993. It marked the fourth time in the past seven months that job cuts exceeded 200,000.