August 06, 2009

Layoffs have been adding up and are still rising. U.S. corporations' layoffs rose by 31% in July to 97,373, according to outplacement firm Challenger Gray & Christmas. Another report by ADP Employer Services says U.S. private employers shed 371,000 jobs in July, according to CNBC. Meanwhile, pink slips in the financial services industry are still being handed out.

The latest financial institution to announce layoffs is PNC Financial Services Group Inc. (NYSE:PNC). The Pittsburgh-based bank will lay off 74 people at its Miamisburg, Ohio, mortgage processing facility, according to the Pittsburgh Business Times. The layoffs will start in September and continue throughout the end of the year.