February planned layoffs highest in 11 months

(Reuters) - The number of planned layoffs at U.S. firms rose in February to its highest level in 11 months as government and non-profit employers let workers go, a report showed on Wednesday. Employers announced 50,702 planned job cuts last month, the highest level since March 2010 and a jump of 32 percent from January's 38,519, according to the report from consultants Challenger, Gray & Christmas, Inc. Layoffs were 20 percent higher than the 42,090 announced in February of last year, marking the first year-over-year increase since May 2009.