Another 1 million job cuts expected in ’09 Challenger

Dec 23, 2008 | 12:08 PM |

Despite planned job-creation initiatives by President-elect Barack Obama, job market conditions are expected to remain bleak in 2009, according to Chicago-based outplacement consultancy Challenger, Gray & Christmas Inc.

Job cuts are likely to surpass 1 million again next year as employers continue to adjust payrolls in light of weak consumer and corporate spending. Job cuts have already surpassed 1 million this year and are expected to end the year at a five-year high.....

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