Survey: Employers Are Cutting Back On Layoffs

CHICAGO (October 4, 2012)--The Challenger, Gray and Christmas job cuts survey found that employers are cutting way back on layoffs.

The outplacement firm said Thursday layoffs last month were up about five percent from August, but CEO John Challenger said that was a 20-month low and he said there was "a big drop from last year," noting that layoffs in September were down 71 percent from a year ago.

For the third quarter, layoffs were the least for any quarter during the past 12 years and year-to-date job cuts were at a 15-year low.

"You have to go back to 1997 to find fewer job cuts announced in the first nine months of the year,” Challenger said.

But he says while layoffs are back to pre-recession levels, hiring remains very sluggish.

That’s good for those who have jobs, but tough for those, who don’t, he said.

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