.
NEW YORK (Dow Jones)--Job cuts announced by U.S. corporations in the month of September came in sharply lower than August, according to Challenger, Gray & Christmas Wednesday.
Challenger reported that 76,506 cuts were announced last month, some 3,419 fewer than the announced layoffs in August, marking the lowest monthly figure since May, the Chicago-based firm said.
"Frankly, the September decline was somewhat surprising, considering that the last four months of the year historically have been the heaviest, as employers finalize budgets and business plans for the coming year," said John Challenger, chief executive officer of the firm, in a press release.
However, he noted a relatively low job cuts figure last September and employers went on to announced 426,000 job cuts in the last three months of the year.
Challenger, Gray & Christmas Inc. is an outplacement firm which tracks layoff announcements and releases its Challenger Employment report monthly.
-By Angela Pruitt, Dow Jones Newswires, 201-938-2269, angela.pruitt@dowjones.com
(END) Dow Jones Newswires
10-01-03 1000ET- - 10 00 AM EDT 10-01-03