WASHINGTON - There were 61,887 layoff intentions announced in May, up from 40,559 in April and from the 37,135 job cuts announced in May 2011, job placement firm Challenger, Gray and Christmas, Inc. said in a report released Thursday. The data are not seasonally adjusted.

Layoffs in May were led by the computer sector, which reported 27,754 job reductions in the month. About 27,000 of those cuts came from Hewlett-Packard

"We may see more job cuts from the computer sector in the months ahead," said John Challenger, chief executive officer of Challenger, Gray & Christmas.

Challenger noted that while technology spending is up, that spending seems to be focused on a smaller number of companies. The remaining firm are forced to redistribute their workforce or lay off workers.

In other data released, hiring intentions fell to 7,722 in May from 11,794 in April, and were down from 10,248 in May 2011. May hiring plans were led by the automotive sector, which announced hiring plans for 2,474 new workers.

Market News International is a real-time global news service for fixed-income and foreign exchange market professionals. See www.marketnews.com.

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