Why do people join the ranks of the unemployed?

Most often, it's the result of significant company changes such as a restructuring, merger, sale or major reorganization, according to an annual career transition survey. Among respondents who lost their jobs, 94 percent cited changes at their company as the reason, up from 64 percent in the 2001 survey. That number rose to 75 percent in 2002 and to 79 percent in 2003.

The survey, by Philadelphia-based human capital and transition company DBM, queried more than 27,000 managers and professionals who find their careers in flux.

"American companies are still undergoing substantial strategic transitions in order to more effectively compete in an ever-changing marketplace and we do not expect this trend will change in the near future," said Charles F. Kalmbach, DBM's president and chief executive. He added that DBM expects 2004 job loss trends to continue as workforce strategies are realigned to match new competitive realities.

In other findings, average severance pay dropped to 17 weeks last year from five months in 2003. More workers — 48 percent, up from 41 percent — said they'd been offered a higher salary.