Firings Sky-Rocket

September 5, 2007 by Douglas A. McIntyre

Challenger, Gray & Christmas says that announced lay-offs rose 85% from July and August, driven by job cuts in the financial and mortgage brokerage industries.

Financial job cuts totaled 35,752 in August, the highest monthly total for the industry since Challenger, Gray & Christmas began tracking in 1993, the firm said

If this keeps up, there’s going to be a recession.

Douglas A. McIntyre

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