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117,556 layoffs announced in January by U.S. businesses
NEW YORK (Dow Jones/AP) - U.S. corporations announced 117,556 layoffs in January, up 26 percent from December, outplacement firm Challenger, Gray & Christmas reported Tuesday. While layoff announcements breached the 100,000 mark in January for the first time since October, the month's total was 11 percent less than the number in January 2003. There is typically a disproportionately high number of layoffs in January, the firm said. "It is too early to tell if we are going to have another year of heavy job-cutting," said John Challenger, chief executive of the firm. "We typically see higher job cuts in January as companies set into motion business plans and employment needs for the new year." Challenger, Gray & Christmas tracks layoff announcements and releases its Challenger Employment report monthly.
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