Struggling airlines lead U.S. planned job cuts in August: report – Reuters India

WASHINGTON (Reuters) – U.S. employers announced another 115,762 job cuts in August, led by struggling airlines as the COVID-19 pandemic weighs on travel and financial assistance from the government lapses.Though the layoffs reported by global outplacement firm Challenger, Gray & Christmas on Thursday were 56% down from July, they lifted total job cuts so far…

Struggling airlines lead U.S. planned job cuts in August: report – Reuters India

WASHINGTON (Reuters) – U.S. employers announced another 115,762 job cuts in August, led by struggling airlines as the COVID-19 pandemic weighs on travel and financial assistance from the government lapses.Though the layoffs reported by global outplacement firm Challenger, Gray & Christmas on Thursday were 56% down from July, they lifted total job cuts so far this year to a record 1.963 million. The previous all-time annual high was 1.957 million in 2001. Companies announced 160,411 hiring intentions in August.“The leading sector for job cuts last month was transportation, as airlines begin to make staffing decisions in the wake of decreased travel and uncertain federal intervention,” said Andrew Challenger, senior vice president at Challenger, Gray. “An increasing number of companies that initially had temporary jo
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