Job cuts announced by US employers have hit nearly 2 million so far this year, with the entertainment industry accounting for 40 percent of total layoffs, according to global outplacement firm Challenger, Gray & Christmas.
In its report published on Thursday, the company said that last month’s layoffs in the US were down 56 percent from July, but still 116 percent higher than at the same period one year ago. August job cuts of nearly 116,000 lifted the total number of this year’s layoffs to 1,963,458. The number has already broken the previous record for the whole of 2001, when US-based employers announced a total of 1,956,876 cuts.
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