Big Payoffs From Layoffs
As America's sixth year of expansion draws to an end, it's clear that corporate restructuring and downsizing are still in high gear. According to outplacement firm Challenger, Gray & Christmas Inc.'s tally of big companies' planned layoffs, some 43,595 cuts were announced in January. While that's 55% less than the total a year earlier--when AT&T unveiled plans to shed some 40,000 workers--it's up 12% from January, 1995, and is the second-largest figure in 12 months.
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