Job-cut announcements surge 54% in July to third-highest on record: Challenger

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Job cuts announced by U.S.-based employers jumped in July to 262,649, the third-largest monthly total ever, according to global outplacement firm Challenger, Gray & Christmas. July’s total is 54% higher than the 170,219 job cuts announced in June. Last month’s cuts bring the yearly total so far to 1.85 million, up 212% from the 592,556 cuts at this time last year, Challenger said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.