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National job cuts decline in August

Employers announced plans to reduce their work forces by 88,736 jobs in August, 14 percent fewer than the 103,312 job cuts announced in July, according to the latest national job-cut report issued by global outplacement consultancy Challenger, Gray & Christmas, Inc.,

However, last month's total was 12 percent higher than a year ago, when August job cuts totaled 79,459. This marks the seventh time this year that monthly layoffs surpassed the year-ago figure.

Employers have now announced 667,996 job cuts, year-to-date, a 29 percent increase from a 2007 eight-month total of 515,855. With four months remaining, 2008 job cuts are just 100,000 shy of the 2007 year-end total (768,264). At the ...

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