Extended Mass Layoffs In The Fourth Quarter Of 2002 — 2003-04-18

In the fourth quarter of 2002, 2,127 mass layoff actions were taken by employers that resulted in the separation of 416,941 workers from their jobs for at least 31 days, according to preliminary figures re- leased by the U.S. Department of Labor's Bureau of Labor Statistics. Both the total number of layoff events and the number of separations were lower than in October-December 2001. (See table A.) The decline from fourth quarter 2001 was most notable in administrative and support services, in transportation equipment manufacturing, and in computer and electronic products manufacturing. The completion of seasonal work accounted for 46 percent of all events and 213,730 separations during the period. Layoffs due to internal company restructuring accounted for 16 percent of events, and resulted in 72,208 separations, lower than a year earlier.