Job cuts soared 218% in January, according to career placement firm Challenger, Gray & Christmas. Layoffs were particularly heavy for people working at energy and retail companies.
In total, American employers announced 75,114 cuts last month, according to Challenger. It was a big jump from December when under 24,000 layoffs were announced.
Walmart (WMT) and Macy’s (M) are closing stores and letting workers go as they try to compete with the heavy rise in online shopping. Walmart alone announced it will shut 269 stores worldwide, potentially putting up to 10,000 U.S. workers out of jobs.
