In the largest monthly layoff toll since January 2002, U.S. companies cut 181,671 jobs in November, a 61% increase over October, according to research released Wednesday. Industry watchers expect as the holiday season continues that employers will be looking to further downsize in preparation for a lean new year. Challenger, Gray & Christmas reported the number of positions cut in November is the highest since January 2002, when companies were struggling to recover in the wake of the terrorist attacks of Sept. 11, 2001. The total number of jobs cut in November not only outpaced previous months this year, but also represents a 148% increase over the same month last year. "November represents the largest job-cut month since employers announced a record 248,475 planned layoffs in January 2002," Challenger, Gray & Christmas wrote in a statement.
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