The NewStandard ceased publishing on April 27, 2007.

Worker Layoffs Continue to Rise, May Top 2004 Rates

by Brendan Coyne

Dec. 8, 2005 – Companies in the United States fired nearly 100,000 people in November, a 22 percent jump over a month ago, marking the third consecutive month of rising layoffs. Led by the auto industry, government and nonprofit employers, the job dump puts the nation on track to experience the fifth year in a row in which layoffs top one million, Dow Jones’s MarketWatch website reported yesterday.

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November’s numbers, announced by the global outsourcing firm Challenger, Gray and Christmas, are about 5 percent behind those from the same month a year ago. But, the business publication said, current trends indicate that the year-end total will beat 2004’s 1,039,735 slashed positions.

The auto industry continued to top all others in shedding workers, tossing 16,870 from payrolls in November, according to data compiled by Crain’s. Those numbers include the 5,000 layoffs General Motors added to its projected 25,000 announced this summer.

Current indicators point to that trend continuing. At a meeting yesterday, Ford Motor Company head Bill Ford Jr. revealed a plan to dismiss as many as 30,000 hourly North American workers and close ten plants throughout the continent.

Government and nonprofit agencies jointly come in second, with plans to drop 14,195 positions, Crain’s reported. Other areas fared a bit better, with chemical, utility, energy and real estate looking to drop fewer than 1,000 jobs apiece.

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The NewStandard ceased publishing on April 27, 2007.

Brendan Coyne is a contributing journalist.

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