John Challenger Year Quotations

The only clear picture we have from the job cut numbers this year is that employers appear to be confused about the direction this economy is taking, ... Companies are experiencing increased business, but they are also seeing their costs soar due to higher fuel prices, inflation in supplier prices and a weaker dollar, which makes it more expensive to buy foreign parts.

October and November were the second- and third-heaviest months of the year for layoffs, ... We returned to the levels of job cutting we saw in 2001, which was the heaviest year we've ever tracked.

Frankly, the September decline was somewhat surprising, considering that the last four months of the year historically have been the heaviest, as employers finalize budgets and business plans for the coming year,

Overall, job cuts are down from last year and significantly lower than the record numbers we saw in 2002 and 2001, but there are still some worrisome trends,

Retailers are being forced to turn into discounters at all levels, and that early transformation to a discounting posture is putting great pressure on profits. Retailers make a good percentage of their profitability in the last two months of the year. This year those earnings are going to be under real pressure. They'll be fighting to keep costs down.

Merger/acquisition activity was the second leading cause of job cuts (in January), behind cost-cutting. It will continue to be among the top job-cut reasons this year as an improving economy and increased competition force industry consolidation.

We have already seen a couple of large deals announced this year, one of which expected as many as 10,000 job cuts to take place as redundant positions are eliminated, ... This could be a big year for such transactions.

The decline in job cuts is certainly welcome news, but it is difficult to get too excited about a year in which more than 1.2 million people fell victim to downsizing, ... That is more than double the 553,044 job cuts averaged annually during the six-year period before the recession.

Tech cuts have been trending downward year after year as firms continue to regain their strength after the devastating dot-com collapse in 2000 and 2001.

Now is the time when companies finalize their budgets for the coming year or make last-minute cutbacks to improve the year-end bottom line,

You should tie up these loose ends a year or two before retiring. Don't wait until the last minute to understand your benefits options.

Changes at the top are typically followed by changes further down the ladder. However, the high number of job cuts this year could also be leading to CEO changes.

Changes at the top are typically followed by changes further down the ladder, ... However, the high number of job cuts this year could also be leading to CEO changes.