MSN Money: The return of big layoffs

[Better Believe It]

Recent layoffs at names like Merck and Cisco, in sectors that hadn’t been struggling, seem to cement a sad trend. Public-sector cuts don’t help the jobs picture, either. Here’s a look inside the numbers.
By Michael Brush
August 10, 2011

It's the last thing any of us want to hear at a time of turmoil like this -- but, sadly, layoffs are back.

Announced layoffs jumped in July to 66,400, a troubling 60% increase compared with June. Just as worrisome, that's part of a trend -- July was the third month in a row for rising layoffs.

"Layoffs have been picking up steam, and that is certainly cause for concern," says John Challenger, the chief executive officer of Challenger, Gray & Christmas, which has been tracking layoff numbers since 1993. "It suggests that there is greater risk of more layoffs to come."

Another troubling aspect to the July layoffs: Many were in sectors previously unscathed by big job cuts, like pharmaceuticals, computers and retail.

Read the full article at:

http://money.msn.com/investment-advice/6-big-employers-with-new-layoffs-brush.aspx?cp-documentid=6840727>1=33036