Job cut plans rise

[Bush_Eats_Beef]

Announcements by major U.S. firms climbs for second straight month, employment firm says.
http://money.cnn.com/2004/06/01/news/economy/challenger/index.htm?cnn=yes

NEW YORK (CNN/Money) - The number of job cuts planned by U.S. employers rose for the second straight month in May as firms announced plans to cut more than 73,000 jobs, an outplacement firm said Tuesday.

U.S. businesses announced 73,368 job cuts in May, up from 72,184 job cuts in April, a gain of 1.6 percent, according to Chicago-based Challenger, Gray & Christmas, which keeps track of monthly job-cut announcements.

May's announcements were 6.9 percent higher than those of May 2003, when 68,623 cuts were announced.

Through the first five months of 2004, employers have announced 408,392 job cuts, an average of 81,678 per month, or about 28 percent lower than the 114,163 pace in the first five months of 2003.