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(CEP News) - According to Challenger, U.S. planned job cuts declined by 21,767 in June to 81,755, but that figure is still up 46.7% compared to a year ago.
In May, planned job cuts rose 13,507 to 103,522. Planned cuts in the automotive sector fell by 27,655 compared to the previous month's increase of 23,105, while cuts to the food sector declined 1,154 after falling 949 in May. Cuts to the energy sector fell 1,147 compared to the increase of 8,564 in May. Cuts in the construction sector declined by 374, after falling 378 in the previous month while planned cuts to the financial sector increased by 3,021 compared to the previous month's 6,900 decline. In an interview with CNBC, John Challenger, head of Challenger, Gray & Christmas, said that cuts to other sectors aside from financial was beginning to become apparent and that pressures were mounting. He also pointed out that planned cuts continued to be much heavier compared to when the financial turmoil began. By Erik Kevin Franco,
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, edited by Stephen Huebl,
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