Corporate job cuts continued to slow in April, as U.S. employers announced plans to cut 36,490 jobs from their payrolls during the month, according to outplacement firm Challenger, Gray & Christmas Inc. Not only have layoffs declined, but hiring is on the rise.Â
The April job-cut total was down 5.0 percent from the same month a year ago, when 38,326 planned layoffs were announced, Challenger Gray said.
In addition, it was 12 percent fewer than the 41,528 job cuts unveiled in March, Challenger Gray said.
It was the lowest monthly total of the year and the third lowest over the last 16 months. Year-to-date, employers announced 167,239 job cuts, 24 percent fewer than the 219,509 layoffs by the same point last year.Â
So far this year, employers announced plans to add 172,590 new workers, an increase of 149 percent over same period in 2010 (69,329). April hiring was dominated by the McDonald’s restaurant chain, which announced a bold plan to add 50,000 employees in one day.
“The slow pace of downsizing suggests employers remain optimistic about business conditions going forward, despite higher energy costs, government deficits and slipping confidence among consumers,” CEO John A. Challenger said.
