In the fourth quarter of 2000, there were 1,905 mass layoff actions by employers that resulted in the separation of 374,320 workers from their jobs for more than 30 days. Both the total number of layoff events and the number of separations were higher than in October-December 1999.
The completion of seasonal work was the major reason cited for layoffs in the fourth quarter, accounting for 53 percent of all events and 52 percent of all separations.
Layoffs due to internal company restructuring accounted for 14 percent of events and 18 percent of separations.
Permanent closure of worksites occurred in 12 percent of all events and affected 13 percent of separations.
These data are a product of the Mass Layoff Statistics program. "Extended mass layoffs" last more than 30 days and involve 50 or more individuals from a single establishment filing initial claims for unemployment insurance during a consecutive 5-week period. Additional information is available in the "Extended Mass Layoffs in the Fourth Quarter of 2000", news release USDL 01-47.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Extended mass layoffs higher in fourth quarter 2000 at https://www.bls.gov/opub/ted/2001/feb/wk3/art04.htm (visited March 02, 2024).