Planned Job Cuts Jump 41%, 5-Month High, Report Says

planned layoffs 5-month high
planned layoffs 5-month high

The number of planned layoffs by firms jumped 41.1 percent in October to the highest level in five months, although the number includes more than 10,000 jobs in U.S.-owned auto plants in Europe, a report said on Thursday.

Employers announced 47,724 planned job cuts last month, up from September's 33,816, according to the report from consultants Challenger, Gray & Christmas Inc. It was the highest level since May.