February Job Cuts At Lowest Level Since 2006

According to a report released by global outplacement consultancy firm Challenger, Gray & Christmas Inc., job cuts in February were at their lowest level since 2006. Employers cut 42,090 jobs last month, which is a 41% decrease over January, when 71, 482 jobs were cut. In February 2009 employers made 186, 350 job cuts. Layoffs have generally been on the decline since last January when employers cut 241,749 jobs. Employers may wait a few more months before hiring begins to increase but the survey results indicate that employers are moving away from lay offs and towards adding more workers. More layoffs are expected though as large companies merge and others are bought out.