Most of the latest cuts were due to companies restructuring, followed by closings and voluntary severance. (Image: Shutterstock)
The market isn't the only thing headed south these days. Jobs are going right along with it.
According to a report from Challenger, Gray & Christmas, annual job cut announcements are up 28.6 percent year over year, and have hit the highest level since 2015.
Although it was a bit quieter in December than it had been in the previous three months, the report says that in 2018 saw 538,659 job cut announcements. That compared with 2017's 418,770, and the most since 2015, when 598,510 cuts were recorded. It's also the second-highest total since 2011, when 606,082 cuts were announced.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
