CHICAGO -- A new survey finds that employers around the country planned to cut more than 40,000 jobs this month.
Challenger, Gray and Christmas says the January number is up 24 percent from December, but down 24 percent from a year ago. And it says its records dating back 20 years only show two years with fewer cuts in the first month of the year.
The cuts could be more than offset by planned hiring. The outplacement firm's survey found companies expected to make more than 60,000 hiring announcements this month.
The January job cuts were led by the financial and retail sectors.
The Associated Press