'Mass layoffs' spiked in fourth quarter
12:02 PM Tue, Feb 17, 2009 | Permalink
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The federal Bureau of Labor Statistics released data today showing that the fourth quarter of last year saw the most "mass layoffs" in at least 14 years. A "mass layoff" occurs when a business lays off at least 50 people for more than 30 days. That occured 3,140 times in the last three months of the year, costing 508,859 workers their jobs nationwide. In the same period in 2007, there were 1,326 fewer "mass layoffs," and 207,267 fewer American workers received a pink slip in a major personnel reduction. 
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