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JANUARY LAYOFFS SURPASS 100,000

 CHICAGO, Feb. 1 /PRNewswire/ -- The month of January was marked by a series of layoff announcements which totaled 103,217 for the 20 business days of the month.
 The rate of announced layoffs came to 5,161 per business day for January.
 The figures were reported Monday in the monthly Challenger Employment Report, published by Challenger, Gray & Christmas, Inc., international outplacement consultants.
 With the announcement on Jan. 25 of 50,000 to be laid off by Sears, Roebuck, retailing leads the layoff list followed by aerospace (36,260), transportation (3,843) and computer industries (3,629).
 James E. Challenger (312-332-5790), president of the firm, commented:
 "Announcements of layoffs accelerated during January as increasing numbers of companies adjusted their operating budgets for what they perceive their levels of business will be entering the new year.
 "What the figures illustrate is that many firms which had lost touch with their changing markets are having change forced on them through manpower attrition. Faced with reality of shrinking profits and searching for ways to prevent further reductions, they are finding it necessary to reevaluate their entire personnel function.
 "It is likely that some layoffs will continue as employers search for answers. The large numbers who are being laid off face the necessity of competing in an increasingly crowded and competitive job market.
 "There are jobs available for those who know how to get them but the problem is that most do not know how to look for new work. Until they do and become self-motivated as a result, unemployment will be a continuing problem."
 Challenger said of those finding new employment, approximately 60 percent are being hired by small to medium sized companies and 20 percent by large companies. An additional 20 percent are becoming entrepreneurs.
 LAYOFFS
 Jan. 1, 1993 - Jan. 31, 1993
 ANNOUNCED EMPLOYER INDUSTRY NUMBER
 1-4 Northwest Airlines Transportation 1,043
 1-5 United Airlines Transportation 2,800
 1-5 IBM Computer 3,000
 1-6 Ciba-Geigy Corporation Pharmaceutical 550
 1-7 John Hancock Life Ins. Insurance 700
 1-9 The New York Daily News Publishing 170
 1-11 Prodigy Services Co. Computer 250
 1-11 Fieldcrest Cannon Inc. Textiles 130
 1-13 Alcoa Aluminum 75
 1-13 Symbolics Inc. Computer 39
 1-13 Liberty Mutual Insurance 400
 1-19 Kodak Photography 2,000
 1-19 I.T.T. Corp. Financial 1,400
 1-20 Nabisco Foods Group Food 100
 1-20 Comptronix Technology 35
 1-21 Whirlpool Corp. Appliance 90
 1-24 McDonnell Douglas Corp. Aerospace 8,700
 1-24 Artisoft Computer 40
 1-25 Sears Roebuck Retail 50,000
 1-25 First Brands Manufacturing 75
 1-25 Supercomputer Systems, Inc. Computer 300
 1-26 United Technologies Aerospace 10,600
 1-26 Armco Steel 1,400
 1-26 Boeing Aerospace 15,000
 1-27 Vought Aircraft Co. Aerospace 1,500
 1-27 Alliant Defense 1,700
 1-28 R.R. Donnelley & Sons Publishing 660
 1-29 Westinghouse Electric Corp. Aerospace 460
 Total for January 1993 103,217
 Source: Challenger, Gray & Christmas, Inc.
 James E. Challenger, president, 312-332-5790
 Announced Layoffs Jan. 1 - Jan. 31, 1993
 Average daily layoffs for 20 business days - 5,161
 Ranking by Industry
 1. Retail 50,000
 2. Aerospace 36,260
 3. Transportation 3,843
 4. Computer 3,629
 5. Photography 2,000
 6. Defense 1,700
 7. Financial 1,400
 8. Steel 1,400
 9. Insurance 1,100
 10. Publishing 830
 11. Pharmaceutical 550
 12. Textiles 130
 13. Food 100
 14. Appliance 90
 15. Aluminum 75
 16. Manufacturing 75
 17. Technology 35
 Total 103,217
 -0- 2/1/93
 /CONTACT: John R. Bell or Herbert H. Rozoff of Ruder Finn, 312-644-8600, for Challenger, Gray & Christmas, Inc./


CO: Challenger, Gray & Christmas, Inc. ST: Illinois IN: SU: ECO

LR-OS -- NY086 -- 1494 02/01/93 15:28 EST
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Date:Feb 1, 1993
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