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Job cuts drop: The number of job cuts announced for February dropped 30 percent from January, and were 43 percent lower than a year ago, the outplacement firm of Challenger, Gray & Christmas Inc. said. Job cuts for February totaled 35,415, down from January’s 50,655 cuts, Chicago-based Challenger reported. Job-cut announcements fell from 61,870 a year ago. But Challenger chief executive John Challenger warned the dropping job cuts could merely be “the calm before the storm. Rising gasoline prices . . . could begin to slow economic expansion and launch a new round of downsizing,” he said.
