82,283 people laid off in May 2005

US corporations announced 82,283 job cuts in May 2005, a 42% increase from a five-year low in April 2005, Challenger Gray & Christmas said. In IT industry the job cuts surged to 17,886 in May 2005 as companies reacted to weak demand in European markets. So far in 2005, layoff announcements are running 4.6% ahead of 2004 pace. In all of 2004, 1.07 mln job reductions were announced.