Number of ‘mass layoffs’ jumps up 3 percent
Mass layoffs — when employers let go of 50 or more people at once — has jumped up 3 percent this summer, according to the unemployment numbers that came out Friday. Major companies like Borders, Bank of America, Cisco, Lockheed Martin, and Goldman Sachs have all recently announced mass layoffs.
Although the number of mass layoffs recently spiked, the overall number of mass layoffs has actually declined over the past 3 years.
Watch video, courtesy of CBS News, below: