U.S. downsizing activity hit a seven-year high in 2009 but fell in 2010 to its lowest level since 1997, according to a report from Challenger, Gray & Christmas, Inc. Employers announced plans to eliminate 529,973 positions in 2010.
December ended up being the lowest job-cut month of 2010, and, in fact, the lowest month for job cuts since June of 2000. Planned layoffs totaled 32,004 in December 2010, down 34% from 48,711 in November. December job cuts were 29% lower than December 2009's 45,094 cuts. The previous-lowest month was August, with 34,768 job cuts. The last month that was lower than December 2010 was June 2000, when employers cut 17,241 jobs.
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