Big companies announced 166,348 layoffs in December, 1/4 of them in the financial sector, up...

|By:, SA News Editor

Big companies announced 166,348 layoffs in December, 1/4 of them in the financial sector, up 275% from a year ago, Challenger says in its monthly report. For the year, companies announced 1.2M cuts, 59% more than 2007. Still, the number fell 8.4% from November's mammoth 181,670.