Planned job cuts among U.S. companies in 2014 totaled 450,531 through November, down 5.8% compared to the same period in 2013. According to global outplacement firm Challenger, Gray & Christmas, this was the lowest count of year-end job cut announcements since 1997.
No company announced more layoffs in 2014 than Hewlett Packard (NYSE: HPQ), which announced a total of 21,000 job cuts. Based on data from Challenger, Gray & Christmas, 24/7 Wall St. reviewed the companies that planned the most job cuts last year.
In some cases, companies shed jobs in an effort to return to profitability or because they become insolvent. However, in an interview with 24/7 Wall St., Challenger, Gray & Christmas CEO John Challenger explained that this is not the case for most companies. Particularly in a strong economy, many companies are “doing regular strategic evaluation of…
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