US job reductions increase to nearly 7-year high in Nov.

Dec 03, 2008 | 11:49 AM | Corinna Petry

November job cuts soared to 181,671, the largest monthly layoff toll since January 2002, bringing the total for the year to more than 1 million for the first time since 2005, according to Chicago-based global outplacement consultancy Challenger, Gray & Christmas.

The November total exceeds October's tally of 112,884 by 60.9 percent and is more than double the 73,140 jobs cut in November 2007, the company said Wednesday.....

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