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To: LLCF who wrote (1847)	2/6/2001 10:34:27 AM
From: Baldur Fjvlnisson	Read Replies (1) \| Respond to of 74559

Corporate Job Cuts Once Again a Record NEW YORK (Reuters) - U.S. corporations announced a record number of planned job cuts in January for a second straight month as companies suffered from the U.S. economic slowdown, international outplacement firm Challenger, Gray & Christmas said on Tuesday. Companies announced 142,208 layoffs in January, surpassing December's record number of 133,713 and bringing the total job cut announcements in the past two months to 275,921. January's total was the highest number of job cut announcements ever recorded since the survey began in 1993 and it was the first time planned job cuts totaled more than 100,000 for two consecutive months. ``Job security has suffered a severe shock,'' said John Challenger, chief executive officer of Challenger, Gray & Christmas. ``It appears that companies have already been heavily impacted by the slowing economy or are preparing for the worst through deep cuts in payroll costs,'' he added. Last week the government said the economy slowed sharply in the closing months of 2000 to a meek 1.4 percent annual rate of growth, down from a 2.2 percent pace in the third quarter. The automotive sector led all industries with 34,959 job cut announcements during January. Telecommunication companies had 22,060 planned layoffs, while retailers announced 15,344 job cuts. Internet and e-commerce companies announced 11,887 layoffs, and computer companies said they were cutting 10,904 jobs. Challenger, Gray & Christmas is a Chicago-based international outplacement firm that tracks job cut announcements each month reported in the U.S. media and to state governments.