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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.