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Announced Layoffs in January Surges on Retail Woes

According to the consulting firm Challenger, Gray & Christmas, announced layoffs in January 2014 by U.S. employers surged 47 percent compared to December 2013. The total job layoffs announced in January were 45,107, surpassing December job cuts by 14,424. 

Retail was a major contributor in increase layoffs in January. Many retailers had terrible sale figures this past holiday season. The excess hiring of temporary and permanent workers reversed big time in the retail sector after the holiday season. But the scale of the decrease was a huge surprise.