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 NEW YORK, Nov. 3 /PRNewswire/ -- Layoff announcements surged 37 percent in October over September, according to the monthly Challenger Employment Report released Wednesday by Challenger, Gray & Christmas, Inc., an international outplacement company.
 There were 66,801 layoffs in October compared to 48,786 in September.
 Excluding July, when IBM's 60,000 announced layoffs boosted the monthly total to 98,736, October was the largest 1993 layoff month since January's 103,217, a period dominated by Sears, Roebuck & Company's layoff of 50,000. Woolworth Corporation's 13,000 layoff announcement on October 13 was the largest single announced layoff reported in September and October.
 Layoffs thus far in 1993 total 516,165.
 Twenty-seven percent more layoffs were announced in 10 months of 1993 than in the same period of recessionary 1991.
 James E. Challenger, president of Challenger, Gray & Christmas, 312-332-5790, said, "Workers at all levels, especially recent victims of mass layoffs, must be terribly confused by all the talk from economists about a growing economy while at the same time reading an increased number of layoff announcements. Apparently, only when corporate America is willing to believe its own favorable news will the layoff hemorrhaging end. There is a limit to the positive results that can be attributed to the downsizing of workforces. The immediate short-term results gained from the cutbacks do not always solve the problem.
 "New jobs are being created every day. Jobs are available in all industries and they will be found by those who are willing to call employers and seek interviews daily," maintained Challenger.
 The October statistics:
 Layoffs averaged 3,181 per business day,
 More employers (79) announced layoffs than in any other month in 1993.
 Twenty-two percent, or 17 employers, announced layoffs of 1,000 or more, the highest monthly figure this year.
 Banking industry layoffs totaled 4,950 compared to 1,280 in September.
 For the first time since January, retail dominated the list as 14,073 layoffs were reported.
 A distant second was communications, 7,396, followed by health care, 7,186, and computer, 5,509.
 For the fifth consecutive month the eastern states topped the corporate headquarters layoff announcement list.
 The Challenger Employment Report represents ongoing research conducted by Challenger, Gray & Christmas Inc., an international outplacement consulting firm. The Challenger Employment Report is published monthly and includes comprehensive information on announced layoffs nationwide. Quarterly, six-month and annual reports are also issued. The report contains charts and graphs, and individual employer listings by corporate headquarters location as well as industry, state and regional rankings. All announcements of layoffs by employers are confirmed directly with the employer before being listed in the Challenger Employment Report.
 Announced Layoffs October 1, 1993 - October 31, 1993
 Average layoffs announced for 21 business days equals 3,181
 Ranking by Industry
 Retail 14,073
 Communications 7,396
 Health Care 7,186
 Computer 5,509
 Banking 4,950
 Transportation 4,149
 Pharmaceutical 4,000
 Aerospace 3,442
 Insurance 2,500
 Utility 2,292
 Food 2,178
 Steel 1,785
 Hospital Equipment 1,450
 Oil 1,200
 Auto 825
 Market Research 700
 Beverage 500
 Glass 475
 Chemical 450
 Mining 443
 Wallboard Manufacturing 360
 Hotel 320
 Copper 289
 Publishing 213
 Office Products 87
 Sugar 29
 TOTAL 66,801
 Source: Challenger, Gray & Christmas, Inc.
 Announced Layoffs October 1, 1993 - October 31, 1993
 Corporate Headquarters of Layoffs
 East 30,098
 New York 18,489
 Massachusetts 4,406
 New Jersey 2,500
 Connecticut 1,600
 Maryland 1,200
 Pennsylvania 800
 West Virginia 799
 Virginia 155
 District of Columbia 149
 West 17,210
 California 16,476
 Colorado 500
 Arizona 135
 Utah 99
 Midwest 16,641
 Ohio 6,630
 Indiana 4,700
 Michigan 2,293
 Nebraska 1,050
 Illinois 1,420
 Wisconsin 548
 South 2,852
 Florida 1,700
 Kentucky 411
 North Carolina 360
 Alabama 287
 Texas 94
 Layoffs are identified by the location of the corporate headquarters of the employer.
 Source: Challenger, Gray & Christmas, Inc.
 -0- 11/3/93
 /CONTACT: Kristen Izydor of Ruder-Finn, 312-644-8600/

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

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Publication:PR Newswire
Date:Nov 3, 1993

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