Over the first four months this year, job cuts in America have increased by 9 percent over the same period last year, reaching 290.671.
As far as percentages go, the media industry is over 6 times as bad, ending the four-month period at a 57 percent increase. Job cuts have already reached 7,949 i
n the industry, according to global outplacement consultancy Challenger, Gray & Christmas, and will probably reach the layoff figure for all of 2007 in the first half. Last year the total for the year was only 11,700.
The overall media industry layoffs account for 2.7 percent of the entire layoffs in the U.S. during the quarter.
For the major components of the media industry: film, TV, music and radio, job cuts reached 3,283. That's in contrast to the 5,906 for all of 2007.
As far as the overall economy goes, Challenger CEO John Challenger said numbers are in line with a slowdown and not a recession, confirming data released by the government.
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Posted by: Useektravel | May 26, 2008 6:51 PM | Permalink to Comment