Even so, the automotive, chemical and media sectors were rocked in ’06.
Comments 0 | Recommend 0
The Sky May Not Be Falling: Despite seemingly weekly notices of huge layoffs, a
new research report said 2006 cutbacks were not as severe as in 2005. Chicago
consulting firm Challenger Gray & Christmas reports that overall job cuts in
2006 were 22 percent lower than in 2005, coming in at less than 1 million for
the first time since 2000. Ironically, the slowdown in job cuts coincides with
record cutbacks in the automotive industry, a bellwether of the economy.
Automakers slashed nearly 159,000 positions in 2006, with industrial goods
manufacturers the second-hardest hit (about 78,000 jobs). Other sectors that
absorbed huge hits were government, nonprofits, computing, retail, media,
chemicals and real estate. However, Challenger’s monthly research covers a small
number of those who actually lose their jobs each month.
Reproductions and distribution of the above article are strictly prohibited. To order reprints and/or request permission to use the article in full or partial format, please contact our Reprint Sales Manager at (732) 723-0569.
Comments
Guidelines: Comments that include profanity or personal attacks or other inappropriate comments or material will be removed
from the site. We will take steps to block users who violate any of our posting standards, terms of use or privacy policies
or any other policies governing this site. You are fully responsible for the content you post.
= Member Only
