U.S. planned layoffs edged down in February

Mortgage woes seen spurring financial sector job cuts

NEW YORK - Planned layoffs by U.S. companies fell by 14.2 percent in February compared with the same month a year ago, according to a report suggesting Friday's monthly employment data by the government might show some resilience despite troubling signs for the future.

Employment consulting firm Challenger, Gray & Christmas Inc. also said on Wednesday that planned layoffs were down 3.9 percent in February from January.

Planned job cuts announced by U.S. employers totaled 72,091 in February, a drop from 74,986 in January and an even steeper slide from 84,014 from February 2007.