US: Number of planned layoffs totalled 53,073 in November - Challenger

"The number of planned layoffs announced by U.S.-based employers totalled 53,073 in November," Challenger, Gray & Christmas, Inc. reported on Thursday.

Key takeaways from the press release

• Companies around the globe are beginning to announce large-scale layoff plans, possibly signalling an upcoming downturn.
• The big story in the U.S. last month was the announcement by General Motors that it would cut 15 percent of its workforce, or up to 14,000 employees.
• Last month’s job cut total is 29.8 percent lower than the 75,644 cuts announced in October and 51.5 percent higher than the 35,038 cuts announced in the same month last year. 
• Retail continues to lead all sectors in job cut announcements with 96,504.