Recovery? More US Employers Want To Slash Workers

U.S. employers planned to cut payrolls by 45,107 in January, up 47 percent from December’s 30,683 planned layoffs, according to a report by Challenger, Gray & Christmas. The January cuts compared with 40,430 planned cuts in the year-earlier period, up 12 percent.

January’s numbers followed a 13-year low in planned cuts that were reported in December, the outplacement firm said.

“I think these are happening as retail industry reacts to the ongoing onslaught from e-retail and to more and more consumers using their smartphones or tablets to purchase their holiday goods,” John Challenger, CEO of the firm, told CNBC on Thursday.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu