ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Wednesday, February 7, 1996 TAG: 9602070048
SECTION: BUSINESS PAGE: C-6 EDITION: METRO
SOURCE: The Boston Globe
If one word could be used to characterize the employment picture in January 1996, it would be this: layoffs.
With AT&T's announcement of more than 40,000 job cuts leading the way, a total of 97,379 layoffs were reported last month.
That number, contained in an employment report released Tuesday by outplacement consultants Challenger, Gray & Christmas of Chicago, represents the largest monthly total in two years.
``Over the last couple of years, layoffs had begun to slow down, but since November we've seen an average of 64,636 job cuts per month,'' said John Challenger, president of the firm.
AT&T's restructuring accounted for just under half of the cuts. Historically, it is topped only by the announcement three years ago of a 50,000-job reduction at Sears Roebuck & Co.
While telecommunications accounted for a large chunk of the job losses reported in January 1996, the computer sector was also beset by a surge of heavy downsizing. Apple Computer announced the elimination of 1,300 positions, while Unisys Corp. and Quantum Corp. reported layoffs of 7,900 and 2,250 jobs respectively.
Meanwhile, the retail industry reported the loss of 8,157 jobs due to restructuring and closings by such firms as Handy Andy, Ames Department Stores and Venture.
``What is paradoxical about these layoffs is that the industries that we are now looking to create many of the new jobs over the next decade - the high-tech industries - were also the ones that seemed to be hardest hit in January,'' said Challenger.
At the same time, the consulting firm sees positive signs of job growth for the future as companies begin to create new markets here and abroad.
``That should be positive for job growth in the future, but it isn't soothing to someone who is in one of those bigger firms that have been laying off,'' Challenger said.
LENGTH: Short : 44 linesby CNB