Challenger Reports Jump in September Layoffs

U.S.-based employers announced a surge in job cuts last month, due largely to Hewlett-Packard Co., according to a report released Thursday.

Domestic businesses said they would eliminate 58,877 positions in September, up 43% from August and the highest since July, according to outplacement consultancy Challenger, Gray & Christmas Inc. From a year earlier, planned layoffs rose 93%.

"Job cuts have already surpassed last year's total and are on track to end the year as the highest annual total since 2009, when nearly 1.3 million layoffs were announced at the tail-end of the recession," said John A. Challenger, chief executive of the consultancy.

The computer industry saw the heaviest job cuts in September, the report said. Midmonth, Palo Alto, Calif.-based Hewlett-Packard said it would slash up to 30,000 slots as it prepares to split into two separate businesses.

For the year, however, job eliminations have been concentrated in the energy sector. Most of those cuts occurred in the first half of the year, though, with the number easing in the latest quarter.

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(END) Dow Jones Newswires

October 01, 2015 08:35 ET (12:35 GMT)

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