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Cuts for San Antonio jobs low in December

Saturday, January 9th, 2016

Cuts for San Antonio jobs and nationwide were very low in December, according to a report from Challenger, Gray, & Christmas.

A strong economy, coupled with what appears to be a growing reluctance to announce layoffs during the holidays, contributed to December experiencing the lowest number of monthly job cuts in more than 15 years,

December was not only the lowest job-cut month of 2015, it was the lowest job-cut month since June 2000, when employers announced 17,241 planned layoffs. Last month also represents the lowest December job-cut total on record, since Challenger began its monthly tracking in 1993.
The December decline was significant enough to prevent 2015 job cuts from reaching a six-year high. In all, employers announced 598,510 job cuts during the year, 24 percent more than the 483,171 planned layoffs in 2014.

“It used to be that companies would not hesitate to announce job cuts around the holidays. In fact, the heaviest job-cut period of the year was often in the closing months. However, that appears to have changed in the wake of the Great Recession,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.

According to Challenger data, the average December job cut total from 2009 through 2015 was 34,046. That is 37 percent lower than an overall monthly average of 53,835 recorded during that period.

Meanwhile, from 2000 through 2008, employers announced an average of 107,056 job cuts in December, which was 13 percent higher than the 94,611 monthly job cuts averaged over that entire period.

“Companies are more cognizant than ever of their public image, particularly in the era of social media. It’s not that job cuts are entirely off limits, but the numbers suggest that employers may be more reluctant to announce large-scale layoffs around the holidays. It could also be that, as more companies measure and revise goals and objectives quarter-to-quarter, the importance of making strategic moves at the end of the year has diminished,” said Challenger.