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U.S. LAYOFFS SWEEP PAST 350,000

 NEW YORK, Aug. 6 /PRNewswire/ -- Layoffs in the United States have now reached 353,614 as the number of employers taking this action escalates. July was the second largest layoff month of the year, according to the Challenger Employment Report released by Challenger, Gray & Christmas, Inc., an international outplacement company.
 At an annual pace averaging 50,516 layoffs per month, 1993 is on course to surpass the recession year 1991 by over 4,000 per month. There were 555,292 layoffs recorded in 1991.
 Even without IBM's major layoff announcement, July was ahead of June figures. July, at 98,736, was only 4,500 short of topping 103,217 in January, which included the Sears, Roebuck & Company layoff figure of 50,000.
 "While the IBM layoff numbers were far larger, the Procter and Gamble action may turn out to be a harbinger of the future and perhaps the most significant layoff news this year. Here is a highly respected, successful company saying that it is time to scale back now to preempt serious restructuring problems in the future. Up until now the major downsizings were reactive, last ditch solutions to declining business conditions. The P&G layoffs may signal a new resolve by the multinationals to avoid the IBM paradigm," said James E. Challenger, president of Challenger, Gray & Christmas, Inc.
 The Eastern states ranked at the top of the corporate headquarters layoff announcement list in July, totaling 68,787. For five out of the seven months of 1993, the Eastern region has been the layoff leader.
 Here are the July statistics:
 -- IBM confirmed 60,000 layoffs to the Challenger Employment Report for July. The figure consists of an additional 25,000 early retirees this year and 35,000 to depart in 1994, according to IBM corporate media relations spokesman, James Ruderman.
 -- Sixty-eight employers announced layoffs in July, 10 more than in June and second only to March when 70 employers announced layoffs.
 -- Two out of three job cuts in July were in the computer industry -- a total of 64,893.
 -- Three major foreign car makers announced U.S. plant layoffs in July for the first time this year: They are Toyota Motor Corporation, Nissan Motor Corporation and Hyundai Motor America.
 In addition to IBM, other large computer industry cutbacks were announced by Apple Computer Inc., 2,500; Tandem Computers Inc., 1,800; Tandy Corporation, 320; and Everex Systems, Inc., 125.
 A distant second on the July industry layoff list was household products with the announcement of 13,000 from Procter & Gamble Company, followed by aerospace, 4,810, and pharmaceutical, 2,400.
 Pharmaceutical industry layoffs escalated from only 500 in January to 2,400 in July. Marion Merrell Dow Inc., announced 1,300 layoffs. Merck & Company announced its first 1993 layoff in March of 1,000 and in July added another 1,100.
 Health care layoff announcements, a mix of manufacturers and providers, continued. Hospital closings, declines in patient admissions and increased insurance costs were cited as reasons for the cutbacks. Among those announcing layoffs were: Group Health Association in Washington, D.C., 200; Providence Hospital in Everett, Wash., 133; Massachusetts General Hospital in Boston, 116; General Hospital Medical Center, 54; Marin General Hospital of Greenbrae, Calif., 43; Stevens Memorial Hospital in Edmonds, Wash., 41; Blue Cross/Blue Shield Association in Chicago, 27; Cascade Valley Hospital in Arlington, Wash., 29; Baxter Healthcare Corporation in Deerfield, Ill., 25; and Valley General Hospital in Monroe, Wash., 22.
 Layoffs totaling 432 were announced by three major employers in the auto industry. Nissan Motor Corporation announced 250 layoffs; Toyota Motor Corporation, 150; and Hyundai Motor America, 32. Toyota Motor Corporation trimmed workers in the United States for the first time.
 -0- 8/6/93
 /CONTACT: James E. Challenger of Challenger, Gray & Christmas, Inc., 312-332-5790, or Kristen Izydor of Ruder-Finn, 312-644-8600, for Challenger/


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

SM-OS -- NY001 -- 0209 08/06/93 09:31 EDT
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Date:Aug 6, 1993
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