U.S. companies have cut more than 550,000 jobs so far in 2008 as they try to preserve their profits in a slumping economy, but analysts say such downsizing must be done carefully for corporations to have any long-term benefits.
Employers announced plans to cut 88,736 jobs nationally in August, a 12 percent increase over a year ago, but 14 percent fewer than the 103,312 announced in July, Chicago-based outplacement firm Challenger, Gray & Christmas said Wednesday.
