Employers are continuing to cut jobs at record pace, and if the month of July is any indication, these cuts are likely to continue far into the future with no slowdown in sight. An outplacement consultancy firm said Monday that planned job cuts announced by employers in July were up by some 26 percent to 103,312 from 81,755 announced in June. The numbers represent a 141 percent increase from last year, when employers announced planned job cuts totaling 42,897. The July figure marks the second-highest number of planned job cuts this year, nearing the May amount of 103,522.
See "Looming job cuts march on - report", Ben Rooney, CNN Money, August 3, 2008