U.S. planned layoffs fell 8.1 percent in April

Planned U.S. layoffs fell by 8.1 percent in April, signaling a push by employers to retain workers as job cuts continue to slip, according to a report released on Tuesday.

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Despite’s Wall Street’s view that the economy is slowing, employers planned fewer jobs cuts for the fourth consecutive month in April, according to Challenger, Gray & Christmas Inc., an employment consulting firm.

The firm said total announced layoffs in April were 59,688 jobs, compared with 64,975 planned cuts in March.

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Overall in 2006 to date, U.S. employers have announced 315,566 job cuts, 8.5 percent lower than the 344,995 job cuts in the first 4 months of 2005.

The biggest job losses during the month came from the auto industry, with 13,334 cuts announced. Faced with growing competition from Asian-based rivals, U.S. automakers such as General Motors Corp. have been pushing ahead with plans to cut costs.