US firms step up job cuts

Published July 3, 2002

WASHINGTON, July 2: US employers announced 11.5 per cent more job cuts in June, an industry survey showed on Tuesday, hitting the turmoil-struck telecommunications sector hardest.

The number of announced job cuts rose to 94,766 in June from 84,978 in May, said the monthly survey by outplacement firm Challenger, Gray and Christmas.

Nearly one-third of the June job cuts — 30,455 — were announced by telecom firms.

Despite rising sharply from May, the total number of announced job cuts was still down 24 per cent from 124,852 cuts announced in the same month a year ago.

Telecommunications companies have announced 165,840 job cuts so far in 2002 — far more than the runner-up automotive industry, which had announced 80,031, the survey said.—AFP

Opinion

Editorial

A difficult story
Updated 12 Jun, 2026

A difficult story

Unless productivity becomes the dominant target of economic policy, Pakistan will continue to oscillate between crises and fragile recovery.
Rough waters
12 Jun, 2026

Rough waters

AMONGST the key potential triggers for fresh conflict in South Asia is water. The Indian state is behaving in an...
Politicised football
12 Jun, 2026

Politicised football

ALMOST three-and-half years since Lionel Messi led Argentina to FIFA World Cup glory, the latest edition of...
GB polls’ aftermath
Updated 11 Jun, 2026

GB polls’ aftermath

The new administration must address the region’s issues proactively.
Peace in retreat
11 Jun, 2026

Peace in retreat

THE ceasefire announced in April was supposed to create space for negotiations. Instead, it has been repeatedly...
A few good men
11 Jun, 2026

A few good men

IT was a brave move, no doubt. This Tuesday, in the land of the Afghan Taliban, a few good men decided to take a...