Tag Archives: Challenger

Pace of job cuts slows

Companies are still cutting jobs – as evidenced by Hewlett Packard’s announcement Tuesday that it would slash it’s global payroll by 9,000 workers over the next three years — but the pace of layoffs is slowing.

In a report released today, global outplacement consultancy Challenger, Gray & Christmas Inc. says layoffs have “returned to prerecession levels.”

That’s what passes for good news these days, but at least the economy continues to recover.

In May, U.S. employers said they planned to cut 38,810 jobs, the12th straight month when job cuts were lower than the same month in the previous year, according to the Challenger, Gray report.

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Will workers want more vacation? — You betcha

With the economy in recovery will workers be more inclined to take all of their vacation time this year?

That’s the question being asked on challengeratwork, a blog by the global consultancy Challenger, Gray & Christmas.

Challengeratwork reports that an Expedia.com 2009 survey found that 34 percent of workers on average did not use 3 vacation days and only 10 percent took extended vacations of two weeks.

“Some of the decline in vacations last year was undoubtedly due to worker concerns about using vacation with job security still in such a precarious state,” Challangeratwork says. “Will the expected economic recovery lead more workers to use their vacation time in 2010?”

You bet they will.

Is your CEO in trouble?

Turnover among the nation’s CEOs jumped 10 percent in the first quarter, consulting firm Challenger, Gray & Christmas Inc. said in a report released today.

Most of the 340 CEOS who left their posts so far this year either resigned or retired. Three left because of scandal or pressure from the board, according to the Challenger report.

The number of new faces taking over in corporate America could increase as the economy improves, the report says.

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