For many Americans, the Labor Day tradition is marked by barbecues and deciding between burgers and brats. But, in the business world, the heaviest job downsizing period of the year traditionally starts after the holiday.
This year, however, could defy tradition.
The heaviest cuts may have occurred during the first quarter.
As the economy shows signs of recovery, the pace of job cuts is likely to continue its downward trend, said John A. Challenger, Challenger, Gray & Christmas CEO.
After reaching a high of 711,100 jobs cuts between January and April – the largest total for that four-month period on record – cuts plummeted to 282,948 from the May through July period. August results are not in yet.