Media layoff pace slows3/10/2002 07:00:00 PM Eastern
The pace of media layoffs eased in February, with companies announcing layoffs of 283 workers, says a new study.
According to outplacement firm Challenger, Gray & Christmas, the February level is 78% below the 1,294 layoffs of the previous month and 27% below the 384 in February 2001. The firm compiles company announcements and filings to regulators concerned with layoffs. The study includes all media except Internet-related cuts.
It's as much art as science. For example, AT&T Broadband laid off 500 workers in the cable division's headquarters in February, but that shows up under telecommunications.
Challenger Gray counted 128,115 layoffs at all companies last month, which was up 28% from 101,731 in the year-ago period but down 40% from 212,704 in January.