The number of workforce reductions announced by US-based employers rose sharply in May, as planned job cuts totaled 51,692 for the month. Nearly 40 percent of those job cuts were announced by Ford Motor Company, according to the report released Thursday from global outplacement consultancy Challenger, Gray & Christmas, Inc. May job cuts were 41 percent higher than the 36,602 job cuts announced in April, and 71 percent higher than the same month last year, when employers shed 30,157 jobs. Employers have announced a total of 214,495 job cuts so far this year. That is down 28 percent from the 275,218 job cuts that ... (full story)