Layoff Announcements At Five-year High, Challenger Says

Announced layoffs rose to almost 45,000 in June, pulling year-to-date planned cuts to the highest mid-year tally since 2010, according to data released Wednesday by outplacement consultancy Challenger, Gray & Christmas. Employers announced 288,000 cuts during the first half of the year, up 17% from the same period last year. That gain was due to low oil prices, which "rippled through the energy and industrial goods sectors," Challenger reported.